From State Rep. Joe Sosnowski:
Budget Talk
April 2025 State of Illinois tax revenues paid to the Department of Revenue (IDOR) came in healthily, with a year-over-year monthly increase of $765 million.
However, all of this increase could be attributed to personal income tax payments.
Some serious warning flags have been shared by The Commission on Government Forecasting and Accountability (CGFA). [Sosnowski is a member.]
As the General Assembly’s nonpartisan budget watchdog, the Commission has the job not only of monitoring current Illinois State tax cash flow, but also projecting the future Illinois budget picture.
A warning is coming to Illinois in the form of a sharp drop in federal funds to the State.
In April 2025 this second key income source was down by $227 million on a month-over-month basis.
On a percentage basis, this was an April 2025 decline of 70.7%. Federal money, which has in the recent past been a major component of our State’s general funds, is experiencing significant decline.
