Illinois lawmakers pass budget during shortened, pandemic-driven session

Illinois lawmakers pass budget during shortened, pandemic-driven session

Illinois lawmakers wrapped up an abbreviated session early today, in which they crafted a $42.8 billion budget reliant on borrowing for an upcoming fiscal year that is shrouded in uncertainty wrought by the ongoing global COVID-19 pandemic. The budget set to take effect July 1 relies on a $5 billion loan from a special Federal Reserve fund created to aid state governments during the pandemic. Legislators hope to pay off the debt with monies from an uncertain additional stimulus package from Congress.