Local News

Local News

 
text size

Lawmakers Briefed on Revenue Estimates

Updated: Wednesday, February 5 2014, 11:50 AM CST

Illinois lawmakers are talking numbers Tuesday--as in, how much green the state is expected to spend and how much it's expected to take in next year. So far, it looks like legislators are seeing red.

Lawmakers were briefed on the revenue estimates from two groups: the Commission on Government Forecasting and Accountability, and the Governor's Office of Management and Budget.

Both estimates projected lower state revenue, primarily due to the temporary tax hike beginning to expire.

COGFA's preliminary estimates showed state revenues dropping by $1.586 billion in fiscal year 2015, while the governor's office forecast a drop of 1.559 billion.

Either way, it's a significant hole in the budget, which will likely mean major cuts.

Lawmakers Briefed on Revenue Estimates


Advertise with us!
 
Advertise with us!

Tonight on WRSP

7:00pm: American Idol

Complete Schedule