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Tag: Rainy day fund

State’s ‘rainy day’ fund hits record-high balance ahead of new fiscal year

State’s ‘rainy day’ fund hits record-high balance ahead of new fiscal year

— July 1, 2023

There are no champagne toasts or fireworks, but when the clock strikes 12 a.m. on Saturday, it’s the start of a new year in Illinois – a new fiscal year, that is. And just as a…

  • Tax cuts on the table if state revenues continue to exceed expectations

    Tax cuts on the table if state revenues continue to exceed expectations

    — March 15, 2023

    SPRINGFIELD – With two months to go before the legislature adjourns and current-year revenues continuing to smash expectations, Gov. J.B. Pritzker said he and legislative leaders…

  • Pritzker, Mendoza tout state’s record ‘rainy day fund’ balance

    Pritzker, Mendoza tout state’s record ‘rainy day fund’ balance

    — June 13, 2022

    The state’s “rainy day” fund —spent down to essentially nothing during the 2015-2017 budget impasse — now has its highest-ever balance of $750 million after a $320 million…

  • Breaking down the governor’s 2023 budget plan

    Breaking down the governor’s 2023 budget plan

    — February 2, 2022

      Each year in February, Illinois’ governor must propose to lawmakers a spending plan for the upcoming fiscal year. The General Assembly will then spend the next several months…

  • Mendoza wants law for greater deposits in ‘rainy day’ fund

    Mendoza wants law for greater deposits in ‘rainy day’ fund

    — March 2, 2023

    SPRINGFIELD – A bill that would trigger automatic payments into the state’s so-called “rainy day” fund is heading to the Illinois House for consideration after unanimous passage…

  • Moody’s gives Illinois second credit upgrade within one year

    Moody’s gives Illinois second credit upgrade within one year

    — April 22, 2022

    SPRINGFIELD – Illinois on Thursday received its second credit rating upgrade from Moody’s Investors Service within one year, moving up one notch but remaining in the worst shape…

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