{"id":37495,"date":"2026-05-08T11:11:13","date_gmt":"2026-05-08T16:11:13","guid":{"rendered":"https:\/\/www.thexradio.com\/news\/?p=37495"},"modified":"2026-05-08T11:13:34","modified_gmt":"2026-05-08T16:13:34","slug":"illinois-legislative-leaders-gear-up-for-final-budget-talks","status":"publish","type":"post","link":"https:\/\/www.thexradio.com\/news\/local-news\/37495-illinois-legislative-leaders-gear-up-for-final-budget-talks\/","title":{"rendered":"Illinois Legislative Leaders Gear Up for Final Budget Talks"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-right\"><a href=\"javascript: window.print()\" class=\"pdfprnt-button pdfprnt-button-print\" target=\"_self\" ><img decoding=\"async\" src=\"https:\/\/www.thexradio.com\/news\/wp-content\/plugins\/pdf-print\/images\/print.png\" alt=\"image_print\" title=\"Print Content\" \/><span class=\"pdfprnt-button-title pdfprnt-button-print-title\">Print<\/span><\/a><\/div><p>(SEN. LAKESIA COLLINS)<\/p>\n<p><i><span style=\"font-weight: 400;\">Final revenue report before deadline shows projections on track<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">By BEN SZALINSKI<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Capitol News Illinois<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><a href=\"mailto:bszalinski@capitolnewsillinois.com\"><span style=\"font-weight: 400;\">bszalinski@capitolnewsillinois.com<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><b>Article Summary<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Illinois lawmakers are making their voices heard about what should be included in the fiscal year 2027 budget that\u2019s set to be approved by May 31.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Progressive Democrats want to see more taxes on businesses and billionaires and the end of some economic development incentives.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Republicans are calling for a measured approach that prepares for the possibility of an economic slowdown and encourages job growth.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gov. JB Pritzker\u2019s budget proposal was more measured than some Democrats would like, with minimal tax increases and spending growth.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue projections for fiscal year 2026 remain on track and are higher than lawmakers originally budgeted for, which could provide some flexibility in the coming weeks.\u00a0<\/span><\/li>\n<\/ul>\n<p><i><span style=\"font-weight: 400;\">This summary was written by the reporters and editors who worked on this story.\u00a0<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">SPRINGFIELD \u2014 Illinois lawmakers are still batting around a variety of budget ideas with just a few weeks left in the legislative session.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The state remains on track to take in more revenue than originally expected this year, which provides wiggle room \u2014though not much \u2014 for lawmakers in the budgeting process. But there remains contention about what the budget should look like, not just between the parties but also between factions of Democrats, with some demanding hefty tax increases beyond what the governor has proposed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Illinois Revenue Alliance, a group of progressive lawmakers and organizations such as the Chicago Teachers Union, want to raise nearly $4 billion to increase funding for social services. They\u2019d do that by creating new taxes and eliminating tax credits, but the governor hasn\u2019t embraced any of the proposals, which are viewed as longshots.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sen. Lakesia Collins, D-Chicago, is proposing a plan that would eliminate several economic development tax credit programs, such as programs that incentivize construction jobs, to free up $700 million in revenue annually, according to proponents. Many of the targeted programs, however, have support from the governor and members of both parties.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIsn&#8217;t it time that we take a stand showing exactly what our values are here in Illinois, instead of allowing the state&#8217;s wealthiest corporations to double dip, racking in both federal and state tax breaks?\u201d Collins said at a news conference on Wednesday.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Senate Republicans said the tax credits have helped attract projects to the state and grow the state\u2019s economy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWhen you raise production costs, you put Illinois at a competitive disadvantage, and those costs get passed on through fewer jobs, less investment and higher prices for families,\u201d Sen. Seth Lewis, R-Bartlett, said at a separate news conference. \u201cWe will be dismantling a framework that provides stability and predictability for long-term investment.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A tax on <\/span><a href=\"https:\/\/www.ilga.gov\/Legislation\/BillStatus?DocNum=3353&amp;GAID=18&amp;DocTypeID=SB&amp;LegId=166224&amp;SessionID=114\"><span style=\"font-weight: 400;\">digital advertising<\/span><\/a><span style=\"font-weight: 400;\"> revenue exceeding $150 million nearly made its way into last year\u2019s budget, and some lawmakers are pushing it again this year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another plan aims to tax corporations on <\/span><a href=\"https:\/\/www.ilga.gov\/Legislation\/BillStatus?DocNum=3486&amp;GAID=18&amp;DocTypeID=SB&amp;LegId=166487&amp;SessionID=114\"><span style=\"font-weight: 400;\">profits<\/span><\/a><span style=\"font-weight: 400;\"> made outside the United States. Rep. Maurice West, D-Rockford, argued that many businesses operating outside the country avoid paying taxes, and he wants Illinois to count all of their earnings in tax reporting.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt&#8217;s about making sure the mom-and-pop shops on Main Street in Rockford aren&#8217;t bearing a heavier tax burden than a corporation with billions in revenue simply because they don&#8217;t have the army of tax lawyers,\u201d West said.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sen. Karina Villa, D-West Chicago, and Rep. Theresa Mah, D-Chicago, have also proposed a <\/span><a href=\"https:\/\/www.ilga.gov\/Legislation\/BillStatus?DocNum=3376&amp;GAID=18&amp;DocTypeID=SB&amp;LegId=166257&amp;SessionID=114\"><span style=\"font-weight: 400;\">tax on billionaires&#8217;<\/span><\/a><span style=\"font-weight: 400;\"> annual gains and losses on assets each year even if they aren\u2019t sold \u2013 an idea Gov. JB Pritzker has <\/span><a href=\"https:\/\/capitolnewsillinois.com\/news\/house-transit-bill-not-going-forward-pritzker-says-as-he-opposes-new-revenue-forms\/\"><span style=\"font-weight: 400;\">openly questioned<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt\u2019s never been done before,\u201d Pritzker said last October. \u201cNever been done before by any state. Never been done before by the federal government. \u2026 You don\u2019t even know how it would work or if you could actually collect on it.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Villa questioned why lawmakers declined to pass a constitutional amendment question to voters that would allow the state to tax millionaires at a higher rate. The deadline to put the measure to voters was May 3.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIllinois families were told that there wasn&#8217;t enough time to ask the wealthiest to pay a few more dollars, to pay more and to contribute,\u201d Villa said. \u201cYet there was time to move a Bears package that even the Bears management themselves say still needs changes. When Springfield decides something is urgent, it finds the time. Working families deserve to be treated with that same urgency.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Senate Republican Leader John Curran, R-Downers Grove, said the state\u2019s continued revenue growth to new annual records means there\u2019s no need to raise taxes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cMore taxes on job creators and pushing capital investment out to other states is not going to grow the Illinois economy,\u201d Curran said.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/capitolnewsillinois.com\/news\/pritzker-proposes-56b-budget-with-minimal-new-spending-tax-on-social-media-companies\/\"><span style=\"font-weight: 400;\">Pritzker proposed<\/span><\/a><span style=\"font-weight: 400;\"> a far more limited plan for new revenue than what some Democrats want. His budget calls for raising $589 million in new revenue, including $200 million from a tax on social media companies based on how many users they have in Illinois. The other funds would come from adjustments to caps on operating loss deductions and table and electronic gambling games.\u00a0<\/span><\/p>\n<p><b>Revenue projections on track<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Revenue in April was up $146 million, or 2%, compared to April 2025, with income tax receipts this March and April increasing by 4.1% compared to the same period last year, according to the bipartisan <\/span><a href=\"https:\/\/cgfa.ilga.gov\/Upload\/0426%20Monthly.pdf\"><span style=\"font-weight: 400;\">Commission on Government Forecasting and Accountability<\/span><\/a><span style=\"font-weight: 400;\">. The numbers fall in line with COGFA\u2019s revised revenue estimates for the year, meaning there is no \u201cApril surprise\u201d that would throw a wrench into final budget talks and projections remain on track.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Overall in FY26, revenue is up $1.7 billion through April, or 3.8%, compared to the same point in FY26. Strong-performing income tax receipts are helping to drive the revenue growth, which COGFA notes is exceeding the 0.9% growth originally expected this fiscal year. Sales taxes, which can serve as an indicator of consumer confidence, are also up 4% compared to last year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some Democratic budget leaders remain cautious about the future.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt just is a reminder that &#8230; this is not a time for us to lose our grip on reality,\u201d Rep. Kam Buckner, D-Chicago, a House budget leader, told Capitol News Illinois. \u201cBut this is, once again, just a result of us doing the right things, and I think we can do more of that as we get closer to passing another balanced budget.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rep. C.D. Davidsmeyer, R-Murrayville, a cochair of COGFA, attributed much of the revenue growth to new taxes that have been part of recent budgets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt just shows that, you know, despite the tax increases that we&#8217;ve seen over the years, the tax increases are what&#8217;s keeping funding and revenue stable, as opposed to just natural growth in our economy,\u201d he said.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Not every revenue source is in the black, however. Corporate income taxes have been declining throughout the year and are down $262 million, or 6.8%, in part because of federal tax code changes that have lowered tax rates on businesses. Parts of Illinois\u2019 tax code are tied to the federal code.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cI think lack of investment in the state of Illinois would be a big part of it,\u201d Davidsmeyer said. \u201cPlus, you know, if they can relocate part of their operation somewhere else and save money on taxes, they&#8217;re certainly smart to do so, unfortunately.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Illinois has also received $45 million less from the federal government so far this year.<\/span><\/p>\n<p><b>Final stretch<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Despite Republican claims that the state is spending too much, Rep. Lindsey LaPointe, D-Chicago, says there\u2019s room for more. She pointed to inflationary changes that mean the state spends less in certain areas than it did in 2000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWhen you account for inflation, when you account for pension contributions, and when you account for our evidence-based K-12 funding formula, the budget has only increased less than 1.5% since state fiscal year 2020,\u201d she argued. \u201cWe are not overspending in Illinois.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the state on track to finish the year with a record $56 billion in revenue supporting a $55.1 billion spending plan, lawmakers could have room to supplement spending in the current budget. Some have called for releasing a 2% increase for higher education that was originally held back, as one example. Buckner said any additional spending this year is still to be determined.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Republicans see hard choices on the horizon for Democrats.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cI do believe the Democratic caucus is at an influx in which way they want to go,\u201d Lewis said. \u201cThey have partners in the Senate Republicans, in wanting to maintain a budget that is not reckless, a budget that actually prioritizes the needs of making sure Illinoisans want to stay in Illinois and not leave.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Republicans have been invited to budget meetings in the Senate, but those in the House remain out of the loop.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Davidsmeyer said preparing for the economy to decline should be a priority during the budgeting process as unemployment ticked over 5% in February.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cYou hope that the economy remains strong, but in the state of Illinois, we&#8217;re putting additional pressures on ourselves that the federal government is not putting on us,\u201d Davidsmeyer said.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Brenden Moore contributed.\u00a0<\/span><\/i><\/p>\n<p><a href=\"https:\/\/capitolnewsillinois.com\/\"><i><span style=\"font-weight: 400;\">Capitol News Illinois<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> is a nonprofit, nonpartisan news service that distributes state government coverage to hundreds of news outlets statewide. It is funded primarily by the Illinois Press Foundation and the Robert R. McCormick Foundation.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(SEN. LAKESIA COLLINS) Final revenue report before deadline shows projections on track By BEN SZALINSKI Capitol News Illinois bszalinski@capitolnewsillinois.com\u00a0 Article Summary Illinois lawmakers are making their voices heard about what [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":37496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[19],"tags":[],"class_list":["post-37495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Illinois Legislative Leaders Gear Up for Final Budget Talks - Effingham&#039;s News and Sports Leader, 979XFM and KJ Country 102.3<\/title>\n<meta name=\"description\" content=\"Effingham&#039;s News and Sports Leader\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thexradio.com\/news\/local-news\/37495-illinois-legislative-leaders-gear-up-for-final-budget-talks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Illinois Legislative Leaders Gear Up for Final Budget Talks - 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