Illinois legislature approves record-breaking FY2025 budget
The legislature has approved the Fiscal Year 2025 budget, which outlines spending for the year beginning on July 1, 2024. The approved budget includes estimated revenues of $53.281 billion and spending of $53.074 billion, marking it as the largest budget in state history. This figure surpasses the Governor's February budget address request by several hundred million dollars and includes nearly $1 billion in tax increases.