State Budget

Beginning Friday and lasting through Aug. 14, the state will reduce its sales tax rate from 6.25 percent to 1.25 percent for certain clothing items costing less than $125 and school supplies.

Illinoisans will receive some modest tax relief starting Friday when the state’s new fiscal year begins.

State Sen. Jason Barickman said early in the spring legislative session he expected very little productivity coming out of it. And now Barickman said his expectations have been fulfilled.

Illinois lawmakers worked until the early hours of Saturday to pass a $46.5 billion spending plan for the upcoming fiscal year, as well as a $1.8 billion package of mostly-temporary tax cuts that Democrats said are intended to soften the impact of inflation on working families.

Gov. JB Pritzker and Democratic legislative leaders struck a state budget deal Thursday that provides more than $1.8 billion in tax relief to inflation-weary Illinoisans, handing the party what it hopes will be a potent message of empathy and fiscal solvency heading into fall campaigns.

As Illinois emerges from the COVID-19 pandemic, a spokesperson for Illinois State University said the institution is "grateful that there were no reductions" to state funding in the new state budget.

Illinois lawmakers worked into the early hours of Tuesday morning to pass a $42.3 billion state budget plan for the upcoming fiscal year that Democrats say would fully fund K-12 education and the state’s pension obligations while also paying down a sizeable portion of the state’s debt.

Illinois lawmakers are poised to vote Monday night on a proposed $42.3 billion state budget for the upcoming fiscal year that Democrats say would fully fund K-12 education and the state’s pension obligations while also paying down a sizeable portion of the state’s debt.

Gov. JB Pritzker and other Democratic leaders announced Thursday that they have agreed to a plan to repay the money Illinois borrowed from the Federal Reserve during the COVID-19 pandemic before the end of the next fiscal year.