Governor’s Budget Office Predicts Fiscal Mess Without Tax Increase
November 16, 2020 12:51PM CST
The latest budget snapshot is bad news for Illinois. Governor Pritzker’s budget office on Friday said it expects the state’s deficit to rise by a billion-dollars and the state’s unpaid bills to jump by 26 billion-dollars over the next five years. The budget office says without a tax increase, or a federal bailout, Illinois will simply not have enough money to pay its bills. Illinois‘ deficit is currently just under four-billion-dollars. The state has just over seven-billion in unpaid bills. The budget office says that number will hit 33-billion by 2026.