Illinois Gov. JB Pritzker signs $50.4 billion budget with key investments in education
Illinois Gov. JB Pritzker has signed the state’s $50.4 billion fiscal year 2024 budget... Illinois Gov. JB Pritzker signed the $50.4 billion budget for the next fiscal year into law Wednesday, hailing it for being balanced and its investments in early childhood, K-12 and higher education. The budget includes an initial $250 million investment in a new program called Smart Start, $350 million for K- 12 education throughout the state as well as $100 million for college scholarships and $200 million for state police officers. It also has funding to hire and train 200 state police and contributes an additional $ 200 million to the state’s pension systems beyond what's required. No Republicans in either chamber of the General Assembly supported the budget, with the budget reflecting projected revenues of $ 50.6 billion and expenditures.
Published : 11 months ago by in Politics
CHICAGO (AP) — Illinois Gov. JB Pritzker signed the state's $50.4 billion budget for the next fiscal year into law Wednesday, hailing it for being balanced and what he called its “transformative investments” in early childhood, K-12 and higher education.
Pritzker, flanked by fellow Democrats Senate President Don Harmon and House Speaker Emanuel “Chris” Welch, signed the budget at Christopher House, a pre-K through eighth grade nonprofit school, to highlight state spending on early childhood development with an initial $250 million investment in a new program called Smart Start that aims to expand preschool access.
The budget also invests $350 million for K-12 education throughout the state as well as $100 million for college scholarships and to provide free access to community colleges. It also has funding to hire and train 200 state police officers, contributes an additional $200 million to the state’s pension systems beyond what's required and makes ongoing contributions to the state’s budget stabilization fund, set to surpass $2 billion. “Our budgets have allowed thousands more students to stay in Illinois because they can afford a college degree. Balanced budgets have allowed us to modernize our infrastructure, build nation-leading clean energy production, attract industries of the future like quantum computing, and prioritize childcare for working families and our youngest children,” Pritzker said in a statement. “Passing this budget," Harmon said, “was an exercise in trust, working together to prioritize paying down debt, shoring up our Rainy Day Fund and ensuring a durable, balanced budget.” Welch said that “with this budget we’re building a stronger economy and putting our state back on sound fiscal footing, while also making smart investments in priorities like education, health care, and local communities."
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• Things to do in Napa Valley during Bottlerock, plus hotels The budget reflects projected revenues of $50.6 billion and expenditures of $50.4 billion, resulting in a $183 million surplus. No Republicans in either chamber of the General Assembly supported the budget.
Topics: Illinois, J. B. Pritzker