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Quincy Reporter

Sunday, November 24, 2024

GOMB projects State budget deficits in FY25 and following years

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Illinois State Representative Randy E. Frese | Representative Randy E. Frese (R) 99th District

Illinois State Representative Randy E. Frese | Representative Randy E. Frese (R) 99th District

The Governor's Office of Management and Budget (GOMB) in Illinois has projected long-term budget deficits for the state in the coming years. According to the "Illinois Economic and Fiscal Policy Report," the GOMB predicts that there will be compounding increases in expenses in key areas such as healthcare costs, pensions, and mandated education funding. The report estimates that general funds budgeted spending, including pensions, will rise from $48.3 billion in FY24 to almost $55.8 billion in FY29.

House Republicans have raised concerns about the state's spending, stating that it has outpaced core revenue growth in recent years. They also point out that Illinois has become increasingly reliant on one-time revenue sources to fund new and existing spending programs. To address these deficits, Illinois has been building up its Budget Stabilization Fund, also known as the rainy day fund, which currently holds over $2 billion.

In an effort to combat public corruption, the Illinois State Police has created an online form for reporting criminal misconduct by elected officials and government employees. The Special Investigations Unit, a detection operation within the State Police, has posted the form on their website. This form allows citizens to report activities such as under-the-table payments or favors in exchange for governmental services or preferences. The aim is to hold public officials accountable and ensure transparency in government.

Meanwhile, the state of Illinois has until Wednesday to respond to a challenge to the Democrats' firearms ban. The U.S. Supreme Court has set a deadline for Illinois to provide a response. The outcome of this challenge will have significant implications for gun control in the state.

On a more positive note, the Illinois Department of Commerce and Economic Opportunity (DCEO) has introduced the Illinois B2B NewBiz grant program. This program is designed to provide financial relief to businesses that started during the COVID-19 pandemic, particularly those in industries that were most impacted by it. The grants are aimed at businesses that have not been eligible for state grants or federal emergency support thus far. Business owners can apply for the grants until January 11, 2024, through the grant portal.

As the Christmas holiday season approaches, Illinois is gearing up to celebrate. The state's tourism department, "Enjoy Illinois," has curated a collection of website pages to highlight the holiday season in the state. This includes information about Hanukkah, which will begin on December 7 and continue until December 15, and Kwanzaa, a celebration of African American culture, which will start on December 26 and end on January 1. Many communities in Illinois have organized Christmas-themed displays and celebrations, and Enjoy Illinois has provided itineraries and travel suggestions for the suburban Chicago area, Downstate Illinois, and the city of Chicago.

In summary, Illinois is facing budget deficits in the coming years, with increasing expenses in key areas. Efforts are being made to address these deficits, including building up the rainy day fund. The State Police has also launched an online form for reporting public-sector corruption. Meanwhile, Illinois has a deadline to respond to a challenge to the firearms ban. On the positive side, the state is offering financial relief to businesses through the B2B NewBiz grant program. And as the Christmas holiday season approaches, Illinois is ready to celebrate with various festive displays and celebrations throughout the state.

To find out more, go to this link: https://repfrese.com/2023/12/04/reporting-public-corruption-gun-ban-challenge-deadline-christmas-in-illinois-and-more/

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