Chambana Sun

State Representative Chris Miller shared information on the state's finances in a November 19 Facebook post, stating, "The governor usually delivers a new budget proposal in February, and that’s when you will start hearing more about the looming deficits."

"Illinois' budget has soared 47% just since 2018, despite a shrinking population and JB wants more of your money," said Miller, according to Facebook. "The governor usually delivers a new budget proposal in February, and that's when you will start hearing more about the looming deficits."

According to Miller, he shared a link to a November 18 guest commentary from My Journal Courier, written by Mark Glennon. The article focuses on the projected budget deficit in the 2026 fiscal year, announced by the Governor’s Office of Management and Budget (GOMB). That projected deficit is $3 billion, which is expected to grow to $5 billion in three years. Although the budget has grown, leaders have made no significant changes to save money. Glennon wrote, "But the state benefited from massive COVID bailouts. More than $70 billion was given in loans and grants to Illinois businesses. Illinoisans got $30 billion in stimulus checks. State and local governments received more than $30 billion. Billions more went to health care and a host of other programs."

Screenshot of State Representative Chris Miller's Nov. 19 Facebook post | State Representative Chris Miller's Facebook page

The report from the Governor’s Office of Management and Budget, published on November 1, is the required Economic and Fiscal Policy Report presented to the General Assembly. It shares information about the state’s long-term economic and fiscal policy intentions, looking at 2025 and the next four years. The report notes that the national economy is experiencing high inflation, a cooling stock market, and a stable job market. It also discusses real gross domestic product (GDP), labor market conditions, and income levels.

Illinois is facing conditions similar to those of the national economy, according to this report. Updated fiscal year 2025 projections indicate that individual income taxes and investment income have exceeded forecasts. GOMB reports $569 million in increases to the revenue forecast. The General Fund is still expected to have $199 million more than previously anticipated.

In Fiscal Year 2026, state projections use the S&P Global baseline forecast for 2024. General Fund revenues are expected to be $53.406 billion, with $10.369 billion in sales tax revenue and $873 million from General Funds moved into the Road Fund. It is estimated that expenditures will exceed revenues by $3.173 billion.

Miller was first elected to the Illinois State House of Representatives in 2019 and is an Illinois native. He is a third-generation cattle farmer and grain operator in Hindsboro. He earned an associate degree in agriculture from Lake Land College and holds a Bachelor of Science in Education.