Illinois Lawmakers Pass Budget With Federal Funding Uncertain

June 1, 2025, 2:33 PM UTC

Illinois legislators late Saturday approved a $55 billion spending plan for the fiscal year starting July 1, unsure how many federal dollars they can count on during President Donald Trump’s second term.

The Democrat-controlled Illinois House of Representatives and Senate voted on revenue and spending legislation Saturday for the fiscal 2026 budget, which cuts roughly $380 million from current spending. The passage comes amid growing uncertainty about funding coming from Washington. The federal government is struggling with its own surging debt and Trump wants to push more costs to states.

The legislature passed the state budget right up against ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.