Illinois General Assembly Working To Finalize $56B State Budget

Illinois lawmakers are closing in on a $56 billion state budget. The proposal designates $150 million in surplus funds, generated from sales tax on gasoline, to help balance the financial plan. In a move aimed at boosting revenue, the budget introduces new taxes targeting prediction markets, cryptocurrency, fantasy sports, and digital advertising income. Supporters say these steps reflect efforts to modernize tax policy and invest in key state services, while critics question the impact on innovation and business. The Assembly is expected to vote soon as negotiations continue at the Capitol.