Gov. J.B. Pritzker’s proposed budget for 2025, which he claimed to be balanced, is now facing scrutiny as the numbers don’t seem to add up. Republicans are pointing out that they had warned about this all along.
According to a memo from Deputy Gov. Andy Manar, state agency directors have been instructed to prepare for a budget with $800 million less in available revenue for the upcoming fiscal year starting July 1. This is due to strong opposition to proposed revenue increases, leading to potential reductions in spending.
Pritzker’s proposed budget of nearly $53 billion in February included around $1 billion in tax hikes, with the most controversial being an increase in the net operating loss deduction cap for businesses. This move has been met with widespread opposition from job creators in the state.
Republican lawmakers, including State Reps. Adam Niemerg, Marty McLaughlin, and Chris Miller, have criticized Pritzker’s priorities and lack of fiscal discipline. They have called out the governor for raising taxes on Illinois residents while providing benefits to noncitizens. They also pointed out the government’s growing expenses under Pritzker’s leadership.
The General Assembly has until May 31 to pass a budget with simple majorities.
