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Illinois budget forecast: Ballooning deficits and backlogged bills

NOVEMBER 18, 2020 | by Peter Hancock | PEORIA JOURNAL STAR (ILLINOIS)

By Peter Hancock, includes “A new report from the Governor’s Office of Management and Budget shows that without significant new revenue, spending cuts or a combination of both, the state will face a budget deficit of $3.9 billion in the current fiscal year and continuing deficits of $4 billion or more in each of the next five fiscal years. It also projects that the state’s backlog of unpaid bills could grow to as much as $33 billion by fiscal year 2026, up from the current backlog total of about $7.8 billion, if lawmakers do not make structural changes.”

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