The Illinois Senate approved a $53.1 billion FY2025 budget with higher taxes on sports betting and video gaming, including some ideas from Governor Pritzker and putting off the removal of the grocery tax until January 2026.
Illinois Senate Passes $53.1 Billion FY2025 Budget – Democrats Praise Fairness Despite GOP Opposition
According to the published article in The State Journal-Register, the Illinois Senate passed a $53.1 billion state FY2025 budget late Sunday night, just a few days after their deadline. This FY2025 budget, which will start on July 1, is expected to bring in almost $53.3 billion in revenue. The House will vote on the FY2025 budget later this week before it goes to the governor.
Democrats in the Senate said the FY2025 budget matches their priorities, even though some wanted more money for certain areas. Senator Elgie Sims, a lead negotiator, said the budget is fair and balanced. No Republicans voted for the FY2025 budget, arguing it increases spending too much and doesn’t help all Illinois residents.
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(PHOTO: Chicago Sun-Times)
Illinois FY2025 Budget Raises Concerns for Sports Betting Companies – Delays Grocery Tax Cut
Furthermore, the FY2025 budget includes tax increases on sports betting and video gaming to raise more money for the state. Some sports betting companies are worried this will hurt their business. Governor JB Pritzker‘s main proposals, like universal preschool and help for migrants, were included in the FY2025 budget. However, a plan to cut the grocery tax was delayed until January 2026 after facing pushback from cities.
READ ALSO: 80% Of Budget Bills Unfinished: Illinois Lawmakers Postpone Vote Until Next Week
