COGFA

Budget FY15
10:27 am
Wed July 9, 2014

Illinois Sees Growth In Tax Revenue, But It Won't Last Long

Credit Hannah Meisel/WUIS

  2014 is only halfway over, but Illinois' new fiscal year just began last week. The state closed out its year with a billion-dollar growth in tax revenue.

The state took in $32 billion in revenue this past fiscal year, more than $7.6 billion of that in sales tax. That's up almost 4.5 percent from last year.

Jim Muschinske, who analyzes revenues for the state's forecasting commission, says that's not amazing, but it's a healthy increase.

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Statehouse
5:00 am
Thu March 27, 2014

Pension Savings Estimate Lowered — But Is It A Big Deal?

Credit Brian Mackey/WUIS

A new report (PDF) says Illinois' pension overhaul will save less money than advertised. Some politicians are trying to make hay out of that. But it might not be such a big deal.

The pension vote came with promises of big savings — $160 billion. Then, after it was already law, a new analysis of the bill said, well, maybe we'll save $145 billion.

This latest report puts savings even lower, at $137 billion.

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