Category: Money

Illinois hospitals fear massive cuts under Trump Administration

By Peter HancockCapitol News Illinoisphancock@capitolnewsillinois.com Hospital officials in Illinois say they will have to make some difficult decisions in the next few years that could involve laying off staff, cutting back services, and even closing some facilities entirely. That’s the expected result of federal funding cuts built into the recently

Federal food assistance changes threaten thousands of Illinoisans

By Ben SzalinskiCapitol News Illinoisbszalinski@capitolnewsillinois.com Hundreds of thousands of Illinoisans could lose benefits from a federal food assistance program while the state will be required to cover more costs under changes passed in the latest domestic policy plan. President Donald Trump signed the “One Big, Beautiful Bill Act” into law

Housing funding cut in Illinois, as homelessness increases

By Ben SzalinskiCapitol News Illinoisbszalinski@capitolnewsillinois.com The number of homeless people in Illinois is rising, but the State’s spending on homeless prevention and other housing programs is headed in the other direction. Facing a tight budget year with constrained spending and limited natural revenue growth, the $55.1 billion fiscal year 2026

Illinois $55.1B budget reliant on $700M new taxes

By Ben SzalinskiCapitol News IllinoisBszalinski@capitolnewsillinois.com Governor JB Pritzker signed Illinois’ fiscal year 2026 budget into law Monday, taking shots at president Donald Trump’s budget management to defend hard choices state lawmakers were forced to make this year. The $55.1 billion spending plan set to take effect July 1 is the

Illinois lawmakers delay tier 2 pension reform again

By Ben SzalinskiCapitol News Illinoisbszalinski@capitolnewsillinois.com Public employees hired since 2011 must continue to wait for pension reform after Illinois lawmakers declined to take up the issue during the spring session. Lawmakers and labor unions have both expressed concern that benefits for Tier 2 employees – those who entered the public

Illinois Democrats push through $55.2 billion budget

By Ben Szalinski & Jerry NowickiCapitol News Illinoisnews@capitolnewsillinois.com Giving almost no time for public review, Illinois Democrats pushed through a $55.2 billion budget for next fiscal year late Saturday, bolstering coffers with new taxes on sports bets, nicotine products and businesses. The $55.2 billion spending plan is supported by $55.3

State budget talks final week, fears of congressional cuts

By Ben Szalinski & Peter HancockCapitol News Illinoisbszalinski@capitolnewsillinois.com Illinois lawmakers have one week to pass a new state budget with little room for new spending and Congress presenting further challenges and uncertainty. Revenue projections had already been declining as the spring session has progressed. Now, lawmakers who have long feared

Community Foundation awards $3.4 million in scholarships

At the Community Foundation of the Fox Valley, we’re celebrating the culmination of this year’s scholarship program. More than 1,300 students applied, and we were deeply moved by their dedication, talent, and determination to pursue higher education. Thanks to the generosity of this remarkable community, we are proud to award

Governor’s office cuts revenue projection by $500M

By Ben SzalinskiCapitol News Illinoisbszalinski@capitolnewsillinois.com Governor JB Pritzker’s office is now projecting state revenues to come in about a half-billion dollars below the baseline projections assumed during his February budget address. The latest downward revision comes as lawmakers are entering the final two-week stretch to approve a budget before their

Fee Prohibition Act bad for small business

May 14, 2025Dear editor, As a small business owner in Illinois, I am deeply concerned about the impending implementation of the Interchange Fee Prohibition Act (IFPA), set to take effect July 1. While the intention to reduce costs for merchants is commendable, the practical implications of this legislation pose significant

State revenue projections improve, economic uncertainty

By Ben SzalinskiCapitol News Illinoisbszalinski@capitolnewsillinois.com The General Assembly’s independent forecasting commission has improved revenue projections for the upcoming fiscal year despite growing economic volatility. That’s good news for state lawmakers who are in the final weeks of crafting the fiscal year 2026 budget set to take effect July 1. But

Fed. blocks more than $400M for Illinois health programs

By Ben Szalinski & Jade AubreyCapitol News IllinoisNews@Capitolnewsillinois.com President Donald Trump’s administration is pulling back $477 million from Illinois that was to be used to prevent infectious disease and treat mental health and substance abuse issues. The Illinois Department of Public Health announced this week the federal Centers for Disease