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State officials warn of possible looming recession State officials warn of possible looming recession

State officials warn of possible looming recession

A commission that advises the General Assembly on revenue and economic issues is warning that a slowdown of business activity caused by the COVID-19 outbreak is likely to bring about a recession that could cause a 20 percent drop in state revenues, spread out over a number of fiscal years.

Pritzker delays Illinois’ tax deadline to July 15 Pritzker delays Illinois’ tax deadline to July 15

Pritzker delays Illinois’ tax deadline to July 15

Gov. JB Pritzker announced a number of financial initiatives Wednesday to assist owners of bars, restaurants, hotels and other small businesses during the economic slowdown caused by the novel coronavirus pandemic.

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Capitol Cast    

Listen to the latest Capitol News Illinois podcast. The COVID-19 pandemic has wreaked havoc on the Illinois economy, forcing Gov. JB Pritzker and state lawmakers to completely rethink the budget plan for the next fiscal year. Sens. Andy Manar (D) and Dan McConchie (R), the chair and minority spokesman of a Senate budget committee, share their views.


 

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