Illinois' budget deficit will top $3 billion and its pile of overdue bills ...
FILE PHOTO: llinois Governor J.B. Pritzker delivers remarks at the North America's Building Trades Unions 2019 legislative conference in Washington, U.S., April 9, 2019. REUTERS/Jeenah Moon
The economic and fiscal policy report said the state’s general fund deficit is projected to steadily grow over five years to $3.2 billion with the unpaid bill backlog ballooning to $19.2 billion. It also showed annual pension contributions climbing to $9.65 billion in fiscal 2025 from $8.1 billion in the current fiscal year.
The report pointed to the need for more money, preferably from Governor J.B. Pritzker’s “fair tax” plan, to avoid draconian budget cuts. “Without structural changes like the fair tax, Illinois will continue to struggle to make ends meet, pay our bills on time and deliver vital services, like public education and public safety,” Pritzker said in a statement.
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