Illinois budget analysts are lowering revenue projections over economic concerns.
Capitol News Illinois reports the governor’s budget office and legislature’s Commission on Government Forecasting and Accountability lowered revenue projections for the upcoming fiscal year 2027 budget by less than 1 percent.
While not a massive decrease, the changes reflect growing uncertainty over the economy.
The reports cite fears of lower sales tax growth as prices rise and consumers consider cutting back. Unemployment is also rising in Illinois, which could limit personal income tax growth.
Lawmakers have a May 31st deadline to pass a budget.
