Pritzker to unveil state budget proposal, facing $3B deficit

News

Illinois Governor J.B. Pritzker. (Photo by Joshua Lott/Getty Images)

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

SPRINGFIELD, Ill. – Illinois Gov. J.B. Pritzker is scheduled to unveil his first annual budget proposal amid an estimated $3.2 billion deficit.

The Democrat will address a joint session of the General Assembly on Wednesday with his plans for state spending in the fiscal year that begins July 1.

His administration this month estimated that without action, the state could be in a $3 billion hole in the spring of 2020.

Pritzker campaigned on a progressive income tax and legalizing recreational marijuana . But the graduated income tax would have to be voted on and that couldn’t happen until 2020.

Legalized marijuana could produce up to $1 billion in new tax revenue. But legislation has yet to be proposed and it’s unclear how soon cannabis could be sold if the law is approved.

FOX 2 Newsletters

Sign up for a newsletter from FOX 2 to get updates about news and weather. We offer daily headlines, breaking news, severe weather, and forecast emails.

Popular

Latest News

More News