Illinois Insights: An update from Cozen O’Connor (11/4)
November 4, 2024
November 4, 2024
The Governor’s Office of Management and Budget released a report on November 1st that forecast a $3.17 billion budget shortfall in fiscal year 2026. The report estimates a decline in sales revenue and significant increases for education, human services, and health insurance for state workers, legislators, judges, and their dependents.
In response to this forecast, the governor’s budget office made the following statement, “while a daunting challenge to balance spending pressures in the face of a flat revenue outlook, the governor remains committed to taking steps to further improve Illinois’ fiscal position and address any potential budgetary shortfalls that may arise — as has been done every year since he took office in 2019.” The governor’s budget office also warned that funding for new programs would be limited.
For the current fiscal year, the governor’s budget office estimates a budget surplus of $262 million which will be reserved in the Budget Stabilization fund.
“Despite Chicago’s public health budget shrinking next year, Mayor Brandon Johnson has designated funds to support new behavioral health programs and services as he keeps a campaign promise to execute on an ambitious mental health agenda,” by Crain’s Chicago Business.
“The state’s Low Income Home Energy Assistance Program is accepting applications for all households beginning Friday, Nov. 1. The program offers financial assistance for utility bills to low-income families. Other discounts are also available, even if someone is not enrolled in LIHEAP,” by WTTW.
“The state of Illinois is in the midst of a transformative project to establish a state-based health insurance exchange marketplace that it says could help fill coverage gaps and lower plan costs for residents throughout the state,” by Crain’s Chicago Business.
“Jurors in Michael Madigan’s corruption trial on Monday heard a key wiretapped phone call in which the speaker’s longtime confidant told him about a plan to kick thousands of dollars to a loyal ward aide who was ousted after being accused of sexual harassment,” by the Chicago Tribune.
“Regulators have approved a controversial proposed cannabis dispensary for Chicago’s Streeterville neighborhood, despite a recommended denial from the city zoning administrator. Opponents say it is too close to a school and will delay emergency vehicles,” by the Chicago Tribune.
“The city on Monday began a 30-day period in which drivers will receive warning notices by mail for parking infractions caught by license plate reading cameras mounted to eight city vehicles,” by the Chicago Sun-Times.
“Plus, an Election Day liquor ban question is posed to Lincoln Square residents, while a Bronzeville alderperson pushes for one,” by EATER Chicago.
“Plus, an Election Day liquor ban question is posed to Lincoln Square residents, while a Bronzeville alderperson pushes for one,” by EATER Chicago.
With the election just days away, the Public Strategies team predicts key race outcomes and discusses whether divided government will continue. Featuring Public Strategies’ Howard Schweitzer, Mark Alderman, Towner French, and Kyle Anderson.
Listen to the Beltway Briefing here.
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December 12, 2024
December 12, 2024
December 12, 2024