•February 17, 2021•
Gov. JB Pritzker’s office says he will propose a budget with no tax increases for the upcoming fiscal year, and the deficit is now projected at about $2.5 billion less than previously thought.
The governor introduces his proposed budget each year, but lawmakers in the General Assembly have the ultimate say as to what funding gets appropriated. Pritzker is scheduled to outline his full budget proposal on Feb. 17 in a virtual message, although details have not been finalized, according to his office.
In a brief, 250-word outline of the upcoming fiscal year 2022 budget proposal, the governor’s office said the state will keep spending flat from a year ago while closing “corporate tax loopholes” worth $900 million. The outline did not identify any specific loopholes.     Login or Subscribe to read the rest of this story.