Legislature: Illinois revenue to grow less than 1 percent - KMOV.com

Legislature: Illinois revenue to grow less than 1 percent

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SPRINGFIELD, Ill. (AP) - Legislative analysts predict that Illinois revenue will grow only by $200 million this year - less than 1 percent.

The bipartisan Commission on Government Forecasting and Accountability's figure released Tuesday is significantly lower than Gov. Bruce Rauner's prediction. A commission report says the Republican governor counts $925 million in revenue which "can be described in varying degrees from being unlikely to uncertain."

A Rauner spokeswoman didn't immediately comment.

The report says the administration counts on $500 million in federal Medicaid reimbursement under an obsolete formula, $200 million from a possibly complex sale of the Thompson Center state office building in Chicago; and sweeping the state's "rainy day" fund of $275 million.

The commission says job losses and wage weakness contribute to lowered income and sales tax revenue.

Online: http://cgfa.ilga.gov/

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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