Pritzker highlights Illinois' surplus, urges caution for 2025 fiscal year

SPRINGFIELD, Ill. - With Illinois lawmakers poised to reconvene in Springfield for the upcoming legislative session next week, Governor J.B. Pritzker is seizing the opportunity to highlight the state's economic development achievements.

"We have paid our bills on time in Illinois, today, with our bill backlog and all our short-term debts eliminated. Today our rainy day fund sits at over $2 billion dollars," Pritzker said. "Nine credit rating upgrades in a row. Today, Illinois has a $1 trillion dollar GDP – the fifth largest in the nation – record job growth and historic business creation."

The current year's surplus for the state is estimated at $1.4 billion. Despite this positive financial outlook, the governor is urging lawmakers to exercise caution in planning for the next fiscal year.

Projections indicate that 2025 could bring a significant challenge, with an anticipated $891 million deficit.

Governor Pritzker is slated to present his budget address to lawmakers on February 21.