Manar: Trump, Musk are to blame for revenue dip
Wednesday, May 14, 2025 - Posted by Isabel Miller
[Bumped up from last night for visibility.]
* Deputy Governor for Budget and Economy Andy Manar…
Each year, the Governor and the Governor’s Office of Management and Budget (GOMB) team use the most up-to-date and conservative data available. The Pritzker Administration has always prioritized fiscal responsibility and taken a cautious approach to revenue forecasting, often projecting below actual revenues, throughout the budget process and will continue to do so. This year has brought unprecedented set of challenges, as Donald Trump and Elon Musk push efforts that would strip Illinois of vital tax dollars and deny residents the services and protections they depend on.
The downward revision of the state’s revenue estimate in the April report from GOMB is largely driven by the economic uncertainty and anxiety fueled by the Trump Administration and Republicans in Congress. Their reckless economic policies have already triggered the first quarterly decline in the nation’s Gross Domestic Product (GDP) in three years and are driving up costs for working families. This growing national instability poses a serious risk to Illinois continued economic progress and outlook.
This week, the White House and Republicans are working through a federal budget that slashes funding for essential programs like education, housing, and medical research. These cuts would drive up costs and put critical services for working families at risk across Illinois. There is no state in the union, including Illinois, that can ever match the scope and scale of the federal government’s budget and their obligations to taxpayers.
Despite these federal headwinds, the Governor remains firmly committed to fiscal responsibility and safeguarding the progress Illinois has achieved. He will continue to increase the state’s Budget Stabilization Fund, improve the state’s pension funded ratio, and ensure timely payment of the state’s bills. Alongside this, the administration remains committed to maintaining investments in education, healthcare, and other core services. The Governor has made it clear: he will only sign a balanced budget. At the same time, he has warned of the devastating impact on working families if Trump and Congressional Republicans succeed in their cruel cuts Medicaid, SNAP, and other critical safety net programs.
Governor Pritzker and the GOMB team will continue working closely with legislators to deliver a balanced budget that keeps Illinois on a stable fiscal path while safeguarding the services families depend on.
Thoughts?
…Adding… From the GOMB report…
The revised forecast total, assuming the General Assembly enacting the FY26 adjustments included in the FY26 introduced budget, totals $54,917 million, or $536 million (or 1%) below the General Funds revenue forecast submitted with the FY26 introduced budget.
- Alton Sinkhole - Tuesday, May 13, 25 @ 5:13 pm:
Decent audition for Gov if that chair opens up by Mr. Manar
- Alton Sinkhole - Tuesday, May 13, 25 @ 5:13 pm:
Or Lt. Gov
- Candy Dogood - Tuesday, May 13, 25 @ 5:19 pm:
Hope the Deputy Governor for *squints* Budget and Economy isn’t speaking out while being unaware of any dumpster fires at the agencies he is responsible for running.
- Captain Obvious - Tuesday, May 13, 25 @ 5:28 pm:
There is nothing cruel about the cuts being considered on the federal level. No one who is truly needy will see their benefits reduced, even though the total expenditure on programs will be less. Instead of blaming the President for Illinois’ budget woes, perhaps Mr Manar and JB should focus on where Illinois spends it’s money and how they might expand revenue by getting more folks working and paying taxes. Attract more businesses. Blaming Trump doesn’t do anything to solve the problem and does not excuse JB’s failure to grow the Illinois economy and generate enough tax revenue to adequately fund the state’s obligations.
- It's always Sunny in Illinois - Tuesday, May 13, 25 @ 5:37 pm:
There is no state in the union, including Illinois, that can ever match the scope and scale of the federal government’s budget and their obligations to taxpayers.
We can all be thankful that states…..especially states like Illinois can’t just enact their budgets on borrowed dollars like the federal Government….get a grip…buckle up…spend what you have coming in…..NO additional Taxes…..
- WK - Tuesday, May 13, 25 @ 6:04 pm:
This is going to be the angle they take for any unpleasant things that need to be done.
And they’ll hope everyone forgets that the forecasts today are still higher than they were BEFORE the election.
- Yellow Dog Democrat - Tuesday, May 13, 25 @ 6:42 pm:
Mary Miller, Darin LaHood, and Mike Bost all have constituents who rely on Medicaid.
Let them know they are about to lose their health care, and then end coverage in their areas.
- low level - Tuesday, May 13, 25 @ 7:09 pm:
== And they’ll hope everyone forgets that the forecasts today are still higher than they were BEFORE the election.==
Show me.
- Timey Tim - Tuesday, May 13, 25 @ 10:36 pm:
If Illinois, for just one year, kept spending flat from the year before, would that be such a calamity? I don’t know that it has ever been tried, but I would be interested to know.
- Candy Dogood - Tuesday, May 13, 25 @ 10:50 pm:
===If Illinois, for just one year, kept spending flat from the year before, would that be such a calamity===
For all practical purposes this is the same thing as cutting the budget. Inflation exists. The cost of providing the same services from one year to the next increases. Illinois habit of making terrible fiscal policy choices, like not adequately funding capital maintenance (letting public buildings, parks, et al, rot), not adequately funding pensions, and paying bills months late have been “tricks” applied in the past to avoid “cuts.”
Unfortunately all of those tricks have made it very difficult to continue to let buildings rot and now they’re more expensive to repair, has caused a “pension ramp” where every year payments to make up for the lack of payments to the pension system increase, and even though our bonds are always over subscribed we pay higher borrowing costs and higher contract costs due to our reputation as a state that doesn’t pay our bills when they’re due.
Generally speaking it is better to be responsible than pursue the gimmicks that have made it so that for the next couple of decades I get to pay taxes to fund pension benefits because a few decades ago our government decided to give me the shaft rather than be fiscally responsible.
So, flat spending = cuts.
- Rich Miller - Tuesday, May 13, 25 @ 11:04 pm:
===flat spending = cuts===
Exactly right.