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Foggy crystal ball leads to 21 years of Illinois budget deficits

JULY 26, 2021 | by Luke Schafer | ILLINOIS POLICY INSTITUTE

By Luke Schafer, includes “… Lawmakers should adopt a consensus revenue estimate to minimize politics and improve accuracy. … Most other states recognize erroneous revenue predictions as a problem. As a result, 28 of them have implemented consensus budget forecasting. The practice is defined by the National Association of State Budget Officers as a revenue projection developed in agreement through an official forecasting group representing both the executive and legislative branches.” 

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