(The Center Square) – The Governor’s Office of Management and Budget says tax provisions in the Big Beautiful Bill Act would reduce state revenue by $587 million for the current fiscal year, even after Gov. J.B. Pritzker and state lawmakers moved to decouple from federal tax cuts.
In addition, the latest GOMB update said federal requirements related to SNAP and Medicaid eligibility would lead to state implementation costs of more than $100 million over the next two fiscal years.
TREASURER REPORTS STATE INVESTMENT EARNINGS
The Illinois State Treasurer’s Office made $1.5 billion in investment earnings from the state’s investment portfolio during 2025.
Treasurer Michael Frerichs made the announcement Thursday.
Frerichs said his office is trying to maximize earnings at a time when he said President Donald Trump is “illegally yanking” federal money from Illinois.
CHICAGO MAYOR APPLAUDS FEDERAL LAWMAKERS
Chicago Mayor Brandon Johnson is applauding Illinois’ congressional delegation for helping to secure $42.2 million in federal funds to support 40 projects across Chicago.
The mayor’s office said the amount is a 70.7% increase in funding from fiscal year 2024. Johnson said the federal taxpayer funds would allow the city to replace lead pipes, support seniors and invest in public safety.
