Illinois is confronting a growing fiscal challenge as newly released projections reveal a $267 million shortfall in the fiscal 2026 budget. The Governor’s Office of Management and Budget’s (GOMB) report warns that without significant changes, the deficit could swell to $2.2 billion by fiscal year 2027.

Since taking office, Governor JB Pritzker has increased state spending by nearly 40 percent, pushing Illinois’ budget to record highs despite warnings from Republican lawmakers.

“Think about this: Illinois is taking in record amounts of income taxes, sales taxes, gaming taxes, and other revenues, and that still was not enough money for the ruling party in Illinois,” State Senator Syverson said. “Then, to further feed their spending, they added hundreds of millions in new taxes and fees on taxpayers just in the last year. Now they are telling you that is still not enough for them and they need more? It has never been more clear that Illinois has a spending problem, not a revenue problem.”