Overview
- Gov. J.B. Pritzker presented a roughly $56 billion FY2027 plan that his team characterizes as a maintenance budget with a projected $24 million surplus.
- The plan introduces a new state tax on major social media companies based on Illinois user counts, which budget officials estimate would raise about $200 million.
- Additional revenue would come from taxing casino table games at the same rates as slots (about $120 million) and limiting how much large companies can deduct in prior-year losses (about $269 million).
- Spending priorities include $10.7 billion in pension contributions, $305 million for the K-12 evidence-based formula, a 1% increase for public universities and community colleges, flat $721.4 million MAP grants, and a $74 million increase for DCFS alongside about $250 million for housing programs.
- Budget documents factor in federal headwinds under President Donald Trump with an expected $399 million revenue hit next year, roughly $4.1 billion in federal funds, and ongoing litigation over recent grant cancellations, including public health funding.