Legislature: Illinois revenue to grow less than 1 percent
SPRINGFIELD, Ill. (AP) — Legislative analysts predict that Illinois revenue will grow only by $200 million this year — less than 1 percent.
The bipartisan Commission on Government Forecasting and Accountability's figure released Tuesday is significantly lower than Gov. Bruce Rauner's. A commission report says the Republican governor counts $925 million in revenue it described as "unlikely to uncertain."
The administration counts on $500 million in federal Medicaid reimbursement under an obsolete formula, $200 million from a possibly complex sale of the Thompson Center state office building in Chicago; and sweeping the state's "rainy day" fund of $275 million.
Rauner spokeswoman Catherine Kelly pointed out Rauner's plans for boosting the economy through business-friendly laws will save money.
The commission says a sluggish economy is crimping income and sales tax revenue.
___
Online: http://cgfa.ilga.gov/