Assessing Illinois' Fiscal Future after an Influx of Federal Funds

16 Pages Posted: 20 Mar 2023

See all articles by Francis Choi

Francis Choi

University of Illinois at Chicago

Alea Wilbur-Mujtaba

University of Illinois at Chicago - Institute of Government and Public Affairs

David Merriman

University of Illinois at Chicago - Institute of Government and Public Affairs; Department of Public Administration

Date Written: March 16, 2023

Abstract

As the U.S. continues to cope with the COVID-19 pandemic and its aftermath, state governments are faced with the challenge of prudent fiscal management considering the pandemic’s uncertain course into the near future. However, as reported elsewhere, states' revenues have largely fared better than expected at the pandemic’s onset. Illinois is no exception. Unprecedented federal stimulus and other measures have helped boost Illinois’ revenues beyond initial projections in 2021. Nominal revenue across all funds rose to $91.4 billion in 2021. Total expenditures rose to $92.3 billion in 2021. The temporary influx of federal funds and the pandemic driven increase in yearly expenditures and revenues makes it difficult to fully capture the change in Illinois’ long term fiscal health. Both spending and revenues have increased significantly beyond their long-term trends

Keywords: policy, research, fiscal, justice, pandemic, federal, experts, Illinois, revenues

Suggested Citation

Choi, Francis and Wilbur-Mujtaba, Alea and Merriman, David, Assessing Illinois' Fiscal Future after an Influx of Federal Funds (March 16, 2023). Institute of Government and Public Affairs Research Paper No. Forthcoming, Available at SSRN: https://ssrn.com/abstract=4390729 or http://dx.doi.org/10.2139/ssrn.4390729

Francis Choi (Contact Author)

University of Illinois at Chicago ( email )

1200 W Harrison St
Chicago, IL 60607
United States

Alea Wilbur-Mujtaba

University of Illinois at Chicago - Institute of Government and Public Affairs ( email )

1200 W Harrison St
Chicago, IL 60607
United States

David Merriman

University of Illinois at Chicago - Institute of Government and Public Affairs

Chicago, IL 60607
United States

Department of Public Administration ( email )

400 S Peoria St.
2122 AEH (MC278)
Chicago, IL 60607
United States

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