Report shows Illinois' budget is $1.7B out of balance

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. (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.

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