Illinois Could Face $7B Deficit Over 2 Years After COVID-19
CHICAGO (AP) — Illinois' governor says the state could face a $7 billion state budget deficit during the next two years as the coronavirus takes a toll on the economy. The economy has suffered as residents are under a stay-at-home order that has forced the closure of nonessential businesses and led to 500,000 first-time unemployment claims in Illinois since March 1. The additional economic pain for state government comes on top of billions of dollars in debt Illinois built up during years of overspending and political infighting. Gov. J.B. Pritzker says lawmakers “will need to make extraordinarily difficult decisions.” He predicts a $2.7 billion deficit in the current budget year alone.