Report shows Illinois' budget is $1.7B out of balance
SPRINGFIELD, Ill. (WICS) —
A new report from the Office of Management and Budget shows Illinois' budget for the 2018 fiscal year is $1.7 billion out of balance.
The report provides a five-year outlook based on budget and growth forecasts.
However, the report also said with good economic growth and spending controls, it's possible for Illinois to have a budget surplus by 2023.
Not only that, the state could reduce the bill backlog to $500 million.