FY 2027 GF Budget, Structural Deficit, Revenue, Spending

On February 18, 2026, Governor JB Pritzker delivered his 8th State of the State budget address to the General Assembly. He also released his $56.1 billion General Fund budget proposal for FY 2027 (the "FY 2027 Proposed GF Budget"), which includes a very slight year-to-year increase in spending on services of less than 1.4% in nominal, non-inflation adjusted dollars. But that ignores the impact of inflation, which drives up the cost of funding services in the public sector, just like it increases costs in the private sector. After adjusting for inflation, proposed FY 2027 spending on public services would be about 2% less than FY 2026.