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The Policy Shop: How to stop Illinois from going broke

This week’s Policy Shop is by Director of Fiscal and Economic Research Bryce Hill It’s Wednesday morning. It’s March, but it’s still cold. Naturally, you’ve opened your inbox to find something to brighten your day. And, boy, do I have what you’re looking for. … an analysis of the state budget. Hang on. Before you.

Illinois forward 2024: A sustainable state budget plan

Prior to the COVID-19 pandemic, Illinois’ financial health was the worst in the nation. An unprecedented influx of federal stimulus and bailouts, combined with stronger-than-expected rebounds in tax revenues, saved Illinois from financial ruin. If state lawmakers do not take advantage of this incredibly rare opportunity and pursue structural financial reforms, then state finances will return to their pre-pandemic status quo.

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