Illinois Governor's Office Releases 2021 Economic, Fiscal Policy Report
SUMMARY BY TAX ANALYSTS
The Illinois Governor's Office of Management and Budget released its annual economic and fiscal policy report, outlining long-term objectives and providing a review of the economic effects of COVID-19 disruptions; the report also includes updated fiscal 2022 projections, estimating that collections from individual income tax, corporate income tax, and state sales tax will total $34.773 billion, a decrease of $683 million — or 1.9 percent — from fiscal 2021.