SPRINGFIELD, Ill. (AP) — Tax revenue to the state of Illinois dropped a whopping $1.84 billion in April from the year before. But those who are drafting the state budget at the Capitol aren’t panicking. The Legislature’s Commission on Government Forecasting and Accountability says it’s not that April was such a bad month as that April 2022 brought record revenue. Democratic Gov. J.B. Pritzker said he anticipated a revenue drop when he proposed a $49.6 billion budget last winter. The Governor’s Office of Management and Budget even increased its estimated revenue for next year by $532 million. Rep. Will Guzzardi has tax-increase ideas nonetheless. He would cap the amount retailers keep as payment for collecting state sales tax and also put a tax on billionaires’ portfolios.
