Day: July 11, 2022

State general revenues top $50 billion for first time in FY 2022

SPRINGFIELD – State tax revenues grew by $5.5 billion in the fiscal year that concluded on June 30, exceeding $50 billion for the first time in Illinois’ history, according to a new report from a state budgeting agency. The 12 percent base revenue growth in Fiscal Year 2022 gave lawmakers near-unprecedented flexibility in the current budget year. […]

Major fundraising underdogs among challengers to unseat incumbents

SPRINGFIELD – Four months before the general election, six incumbent state lawmakers appeared primed for an early rejection by voters based on unofficial tallies this week. The longest-serving of the incumbents to lose their primary election was Democratic Rep. Mike Zalewski, of Riverside, a founding member of the House’s “Mod Squad” of moderate Democrats. He […]

Economist weighs in on Gov. Pritzker’s plan to address high inflation

On July 1, Governor J.B. Pritzker froze a proposed gas tax hike, while suspending the grocery tax on certain items. These were two of many initiatives meant to quell rising inflation. Dean Baker, a senior economist at the Center for Economic and Policy Research, described inflation as a time when “most prices are rising,” as […]