If the projections hold true, Democratic Gov. JB Pritzker could face difficult financial decisions, from increasing taxes to cutting spending. | Zubaer Khan/Sun-Times
The relative financial calm that has marked Illinois Gov. JB Pritzker’s six years in office may soon be coming to a close as his administration Friday forecast a more than $3 billion budget shortfall for the next fiscal year.
That marks a major departure from years when the state would post budget surpluses on his watch and presents the governor with a painful set of potential solutions at the same time he contemplates whether to seek a third term in 2026.
To confront the problem, it’s not clear whether the governor and Democratic supermajorities in the House and Senate would favor tax or fee increases; spending cuts; delays in paying state bills; use of the state’s $2.2 billion rainy day fund; or a combination of those choices.
“While a daunting challenge to balance spending pressures in the face of a flat revenue outlook, the governor remains committed to taking steps to further improve Illinois’ fiscal position and address any potential budgetary shortfalls that may arise – as has been done every year since he took office in 2019,” the governor’s budget office said in a statement attached to the forecasts. “The ability to fund new programs will be severely limited.”
Republicans pounced on the new set of budget numbers.
“This guy’s spending like a drunk sailor for the first six years of his governorship. Here we are,” said state Sen. Chapin Rose, R-Mahomet, ranking Republican on the Senate Appropriations Committee.
Rose said the appetite of Illinois taxpayers to shoulder tax or fee increases is “about zero.”
“But that doesn’t mean that the supermajority, progressive, left Democrats won’t do that anyway,” Rose said. “I mean, have you talked to anybody going to the grocery store recently?”
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