Under JB Pritzker’s Leadership, Illinois in Strongest Financial Position in a Generation
State “Rainy Day” Fund Hits Historic Highs
In his first term, Gov. JB Pritzker has put Illinois in its strongest financial position in a generation by delivering four balanced budgets, providing $1.8 billion in tax relief to working families across Illinois, and building up the state’s “rainy day” fund to historic highs.
Gov. Pritzker’s fiscal year 2023 budget, signed in April, specifically prioritized fiscal responsibility. From funding pensions at $500 million more than required to repaying the state’s outstanding debts to committing to funding the Budget Stabilization Fund (“rainy day” fund) with $1 billion for unforeseen emergencies, Gov. Pritzker took bold steps to set Illinois up for a stronger fiscal future.
With last week’s $100 million deposit, Gov. Pritzker’s “rainy day” fund now boasts $854 million to protect Illinoisans in the case of a potential economic emergency and build long-term financial stability. It’s just one of many steps Gov. Pritzker has taken toward his goal of fiscal responsibility — steps that have earned Illinois a whopping six credit rating upgrades.
This follows Gov. Pritzker’s record-shattering economic success in his first term, breaking records with the number of businesses created last year and leading the Midwest in business creation.
Darren Bailey, the Republican nominee for governor, stood in the way of this progress while serving as a state senator by voting against all four balanced budgets.
“Gov. Pritzker’s strong, steady leadership has put Illinois back on track, setting our state up for long-term success and ensuring our economy works for everyone,” said DGA Illinois Press Secretary Yael Sheinfeld. “While Darren Bailey desperately wants to drag us backward, Gov. Pritzker will continue to build on his tremendous progress in his second term — and Illinoisans in every corner of our state will benefit.”