Gov. J.B. Pritzker’s record $55.2 billion budget for 2026 relies on more than $1.55 billion in newly increased revenue estimates to cover cost. That optimism collides with state agencies’ and experts’ sober predictions, meaning taxpayers are again at risk?
Chicago Mayor Brandon Johnson secured approval for his $830 million borrowing plan but can no longer use the money to benefit his cronies at the Chicago Teachers Union. The city just grew its nearly $41 billion in debt.
A new report from the Tax Foundation shows the typical Illinois taxpayer will save big thanks to the constitutional protections of Illinois’ flat tax. Some state lawmakers want to take that protection away.
House Bill 3014 and Senate Bill 1546 would tie Illinois’ spending growth to GDP growth, potentially saving billions of dollars as the state needs to live within its means.
Gov. J.B. Pritzker’s 2026 budget includes record spending, cuts to economic development and overreliance on short-term revenue tricks—including a cleverly hidden tax hike, leaving significant work for the state to reach financial stability.
A new bill would repeal an outdated Illinois business tax. The franchise tax is tough to calculate, most businesses don’t owe it and it generates little revenue in a state that already hits businesses hard with other taxes.
Illinoisans pay the second-highest gas taxes in the nation at more than $0.84 per gallon. Only California charges its drivers more.
Illinois Gov. J.B. Pritzker invoked a fairy tale about magic beans and a giant during his annual state of the state and budget address. Too bad he forgot to take an ax to the giant, record-setting budget he has grown by $16.7 billion since taking office.
Illinois Gov. J.B. Pritzker’s favorability is at exactly 50% ahead of his annual budget address, a chance to win over the 46% of voters with an unfavorable opinion of him. But based on his history of aggressive spending and taxation, what are the odds?
Gov. J.B. Pritzker said raising taxes or hiking pension benefits are not first choices for in his fiscal year 2026 budget. The governor said Illinois needs to “live within our means in this state.”
The Illinois Constitution currently requires income taxes to be imposed at a single, flat rate. A new bill filed in the Illinois General Assembly would allow for income to be taxed at varying rates, making it easier for lawmakers to raise rates.
After years of splurging with revenue boosted by temporary federal aid, future deficits over $5 billion await the Illinois state budget. It’s time Illinois state leaders learn from past mistakes and manage other people’s money responsibly.
When local governments must comply with a new state law, it often increases costs. Those costs are passed on to the taxpayer.
Chicago might have just avoided a property tax hike, but city leaders couldn’t figure out how to pass the 2025 budget without other tax and fee increases. Here’s what the city should do to avoid repeating the same budgeting mistakes next year.