Photo courtesy to Pritzker Facebook page
CHICAGO- While states are suppose to be receiving federal funding to address costs associated with the pandemic, this funding can not be used for the broader impact on COVID-19 on state revenue.
Governor J.B. Pritzker is working with our federal partners and calling on Congress to pass an additional aid package that will provide funding to states to make up for unprecedented nationwide revenue shortfalls.
“This is a public health crisis but it is accompanied by massive economic disruption that’s unprecedented in modern history. Illinoisans are all too familiar with the pain the lack of a state budget can cause, so let me just say up front: we will not go without a state budget,” said Pritzker.
In Illinois, general revenue funds are being revised down $2.7 billion in fiscal year 2020 and $4.6 billion in fiscal year 2021.
With short term borrowing to bridge through this crisis, the total shortfall for fiscal year 2021 is $6.2 billion when compared to the spending plan put forth by Pritzker in February. That shortfall expands to $7.4 billion if the constitutional amendment to move to a graduated income tax does not pass.
“We will need to make extraordinarily difficult decisions on top of the difficult decisions we’ve already made, but together with the state legislature we will make them and we will do so with an unswerving dedication to fairness. In the midst of a pandemic, I am more resolute than ever to protect those who are suffering physical and financial hardship from it,” said Pritzker.