Illinois’ budget increased cumulatively more than pop+inf in state funds and all funds from 2014-23, meaning taxes are higher than the average taxpayer can afford.

  • The 2023 state funds budget is $45.9 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew faster than population growth plus inflation for the last ten years, the state spent and taxed $140.1 billion too much.
  • The 2023 all funds budget is $58.1 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the all funds budget grew faster than population growth plus inflation over the past decade, the state spent and taxed $191.5 billion too much.

State Funds Budget Data

  • Estimated FY 2024 Only State Funds Budget ($ Billions): $92.68
  • FY 2025 Only State Funds Budget Limit ($ Billions): $97.06
  • FY 2025 Only State Funds Budget Limit Growth ($ Billions): 4.73%
  • Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: $3,658
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: $14,632
  • Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: $11,163
  • Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: $44,651

State All Funds Budget Data

  • Estimated FY 2024 All Funds Budget ($ Billions): $121.30
  • FY 2025 All Funds Budget Limit ($ Billions): $127.03
  • FY 2025 All Funds Budget Limit Growth ($ Billions): 4.73%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: $4,628
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: $18,513
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: $15,263
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: $61,053

Other Considerations