Gov. Pritzker Signs What He Calls His "Sixth Balanced Budget"

CHICAGO — Today, Governor JB Pritzker and Lieutenant Governor Juliana Stratton joined Senate President Don Harmon, House Speaker Emanuel “Chris” Welch and budget leaders from each chamber to sign the FY25 state budget package. The $53.1 billion budget builds on the Pritzker administration’s initiatives to invest in early childhood, accelerate business development, and support working families.

“The FY25 budget is another demonstration of the fiscal responsibility that has guided me from Day One of my administration,” said Governor JB Pritzker. “This budget is balanced, pro-family, cuts taxes on workers, and opens up doors of opportunity for employers and employees alike. I’m proud to sign it today and look forward to working together to bring these investments to life in a healthier, more prosperous Illinois.”

"With the signing of the FY25 budget, we are reaffirming our commitment to the people of Illinois," said Lt. Governor Juliana Stratton. "This budget is more than just a financial plan; it's a pledge to invest in our children, support our families, and strengthen our communities. I thank Governor Pritzker for his unwavering leadership in creating a budget that champions equity and opportunity for all."

The FY25 budget is the sixth balanced budget the Governor has signed in as many years—continuing on the path of fiscal responsibility and rebuilding state government after years of mismanagement. Since Governor Pritzker took office, Illinois has received nine credit upgrades, the Budget Stabilization Fund has grown to over $2 billion, and the state has paid down an $8 billion bill backlog. At the same time, Illinois has recently surpassed a trillion-dollar economy, ranking as the fifth largest among the states.

“This is a budget that is built on making a difference,” said Senate President Don Harmon (D-Oak Park). “Today, Illinois is stronger than it has ever been. Over the past six years we’ve overcome unprecedented challenges to truly turn around Illinois and set the course for a better tomorrow.”

“Once again, we’ve passed a smart, equitable budget that prioritizes our fiscal health, reflects our values, and meets the needs of the most vulnerable,” said Speaker Emanuel “Chris” Welch. “I’m proud to stand alongside my colleagues in the House, the Senate, President Harmon, and Governor Pritzker advancing our shared commitment to responsible investments for our future.”

“When we are responsible with our budget, we’re better prepared to address the real challenges facing families across Illinois,” said Speaker Pro Tempore and House Budgeteer Jehan Gordon-Booth (D-Peoria). “This is a compassionate, human-centered plan that invests in our youth, reinforces public safety efforts and prioritizes access to critically-needed healthcare. I appreciate the hard work put into this document by my colleagues, the Governor and advocates across Illinois who want to make this a better state for all. Together we’re making smart investments in our future that will help to create opportunity in every community.”

“The budget signed today builds upon our strong, smart spending decisions of recent years that have led Illinois to not just one credit upgrade – but nine,” said Senate Majority Appropriations Leader Elgie R. Sims, Jr. (D-Chicago). “I am proud of the steps we took to continue Illinois on the right path. We didn’t just look at fiscal outcomes, but prioritized our most vulnerable populations – educating our young people, keeping our communities safe, creating good jobs, and growing our economy.”

Some highlights of the FY25 budget include:

• $198 million into the Budget Stabilization “Rainy Day” Fund.
• More than $500 million in increases for education funding across early childhood, K-12, and higher education.
• Funding to increase birth equity and eliminate black maternal mortality disparities.
• $14 million to fund creation of the new Department of Early Childhood.
• $500 million to build a world-leading quantum computing campus, attracting billions in potential private sector and federal government investment.
• Elimination of the statewide grocery tax.
• $50 million for the state’s first ever child tax credit to help working families with children under 12 who receive earned income tax credits.
• $290 million to Home Illinois to work towards ending homelessness in Illinois.
• Pay increases for Direct Support Professionals (DSP) who work in group homes and Community Care Program (CCP) in-home providers who serve seniors.
• Nearly $3 billion to serve people with intellectual and developmental disabilities, the highest-ever investment of its kind in Illinois.
• Increases in funding for safety net hospitals and nursing homes across the state.

More like this: