SPRINGFIELD, Ill. (WLS) — Illinois Governor JB Pritzker delivers his budget address Wednesday.
Initial forecasts projected a $3 billion deficit. But now we’re learning the outlook is much better.
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Details regarding the budget and the governor’s plan to manage revenue and spending have been tightly guarded by the governor’s office, creating a sense of mystery. On Tuesday, the governor’s team provided a briefing to the four legislative leaders, shedding some light on the matter.
Wednesday, we’re hearing that the governor is not planning any new taxes
Governor JB Pritzker is entering the upcoming fiscal year in a more favorable position than previously expected, bringing a sense of relief to Democrats due to a reduced deficit. This positive turn of events marks a significant improvement from earlier projections.
Senate President Don Harmon expressed cautious optimism about the state’s financial situation, acknowledging that while challenges remain, they have been somewhat alleviated by favorable economic conditions. Despite the need to address a budget shortfall, the outlook is not as grim as initially anticipated.
“I think we have to make sure that the revenue numbers are accurate and we’re just not picking the best ones,” House Republican Leader Tony McCombie said. “Regardless. Every year since I’ve been here, we have raised the budget.”
In an excerpt of the Governor’s speech provided to ABC7 he will call out President Trump over tariffs.
“We ought to be focused on making life more affordable for everyday Illinoisans. With the new tariffs already put in place by President Trump and the ones that he has proposed, the cost of everyday goods like tomatoes and beef and beer is likely to rise again.”
“I think that you will see in the governor’s budget address how he’s laser focused on working with the General Assembly on taking care of working families,” Democratic State Rep. La Shawn Ford said.
Budget proposals include:
-Lowering prescription drug costs,
-Improving access to higher education,
-Crackdown on crypto currency crimes.
The budget is expected to call for lowing prescription drug costs
Republicans are hoping it will also reduce money spent on undocumented immigrants.
“We want economic growth and that’s through good policy.,” McCombie said. “We want no tax increases, that’s, that’s essential. And we want cuts in costs. And so if we can get those three things in this framework, then that’s a win for Illinois.”
The governor is also expected to call for a ban on cell phones in classrooms.
A report by the Illinois Commission on Government Forecasting, which predicts that Illinois will underperform the rest of the Midwest and the nation economically this year.
The governor is planning to reduce spending for healthcare for undocumented adult immigrants as well as the money spent on welcoming centers. This budget is expected to go up by about $2 billion ins pending, at more than $55 billion, which will make it the largest budget in state history.
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