Revenue projection comes in at $34.5 billion
Last week the House Revenue Committee and the State Government Administration committee presented their report to the full House about what kind of revenue we expect to have to work with this year. When all is said and done, we are projected to have $34.5 billion in revenue for the coming fiscal year. That analysis was conducted within the confines of current law, which includes the expiration of the tax increase at the end of December. Now that we know the maximum amount of revenue available, we will see how committed legislators are to truly living within our means and crafting a budget that is based on available revenues, not an irresponsible wish list of endless spending.
It’s a short update this week, as most of the legislation is still working its way through committees. The Appropriations committees began their work this week, despite a lack of leadership due to the delay in the Governor’s budget address. Right now we are just taking testimony from agencies and service providers and trying to find out what their needs will be for the coming year.
Jacksonville’s state representative is sponsoring a bill in the Illinois General Assembly to require applicants for payday loans to watch an education video as part of the process.