Analysis of the Enacted Illinois FY2012 Budget


October 1, 2011

This Report provides an analysis of the FY2012 Enacted General Fund budget. Key findings are: Detail on how the tax increases passed in January averted a fiscal disaster in FY2012; over $388 million in cuts to human service programs; and despite the recent tax increases and spending cuts, the FY2012 budget proposes over $1 billion in spending for which there is no revenue, and is subject to an accumulated deficit of over $7 billion after accounting for unpaid bills left over from FY2011.

Topics:Tax and Budget, Illinois Budget, Education, Human Services

Tags:FY2012, 96th General Assembly, Taxpayer Accountability and Budget Stabilization Act, Deficit, State Revenue, Graduated Income Tax, General Fund, State Budget