Budget
President Donald Trump has seized on the government shutdown as an opportunity to reshape the federal workforce and punish detractors, meeting with budget director Russ Vought on Thursday to talk through “temporary or permanent” spending cuts.
The latest order requires most state agencies to, within 30 days, “identify immediate spending reductions, including efficiencies that will result in reduced spending.”
“It’s on the table,” Mayor Brandon Johnson said Tuesday at a City Hall news conference. “Everything has to be on the table. Everything has to be on the table.”
The new database launched after WTTW News reported the city spent $510.9 million on employee overtime in 2024 — 1.5% less than in 2023, with more than half of the total amount used to compensate Chicago Police Department officers for working extra hours.
Chicago officials held the first of four “budget engagement roundtables” designed to gather feedback about the city’s 2026 budget.
Illinois state officials are interested in attracting the nascent industry because of its potential for economic growth and positioning Illinois as a high-tech leader in the coming decades.
The $55.1 billion spending plan set to take effect July 1 is the largest in state history and is supported by $55.3 billion in anticipated revenue, including more than $700 million in new taxes and more than $500 million in one-time revenues.
Kwame Raoul’s office has joined lawsuits challenging actions of the Trump administration as well as defending the state against legal actions the administration has filed against Illinois.
State lawmakers sent Gov. JB Pritzker a $55.2 billion budget on May 31 that raises $1 billion in new revenue and increases spending by more than $2 billion in fiscal year 2026 compared to the current year.
The Congressional Budget Office has projected that President Donald Trump’s “one big beautiful bill” would increase federal deficits by about $2.4 trillion over 10 years.
President Donald Trump’s big bill making its way through Congress will cut taxes by $3.75 trillion but also increase deficits by $2.4 trillion over the next decade, according to an analysis released Wednesday by the nonpartisan Congressional Budget Office.
Illinois lawmakers worked right up to the May 31 deadline to pass a $55.2 billion spending plan for the upcoming fiscal year. State Democrats say the plan accounts for an uncertain future, while Republicans say more cuts are needed to address what’s ahead.
Spending plan raises over $1B in revenue; income, sales taxes not affected
The $55.2 billion spending plan is supported by $55.3 billion of revenue, including just over $1 billion in new taxes and revenue changes. The four bills making up the budget and capital spending plan were part of a flurry of thousands of pages of legislation that went from introduction to passage in the final 48 hours of the legislative session.
The Illinois General Assembly returned from the long weekend break for its final week of the spring session. Lawmakers have until May 31 to pass a revenue and spending plan with a simple majority of votes.
The General Assembly has through May 31 to pass a budget with a simple majority vote before the threshold increases to a three-fifths vote on June 1.
House committees labored for months on the bill, which underwent late changes to win over holdouts in the Republican conference. It exceeds 1,000 pages and is titled the “One Big Beautiful Bill Act,” a nod to Trump himself.