Gov. J.B. Pritzker Proposes $52.7 Billion Budget with Focus on Pension Reform and Social Programs

The budget plan includes significant tax increases on businesses and sportsbooks to fund education, healthcare, and debt relief initiatives.

Gov. J.B. Pritzker's $52.7 billion budget proposal aims to address Illinois' pension debt, fund migrant crisis response, and introduce a child tax credit.
The plan proposes over $800 million in tax increases, targeting large corporations and sportsbooks, to support state spending without directly burdening residents.
Pritzker's budget includes a strategy to manage the state's pension debt by aiming for 100% funding by 2048, adjusting from the previous 90% target.
A $10 million investment is planned to erase $1 billion in medical debt for Illinois residents, following a successful model in Cook County.
Education and healthcare receive significant funding, with initiatives to expand early childhood education and maintain healthcare benefits for undocumented individuals.