Gov. J.B. Pritzker approves of an additional $350 million fund allocation to the education sector. | https://www.facebook.com/GovPritzker/photos/4109862535794742
Gov. J.B. Pritzker approves of an additional $350 million fund allocation to the education sector. | https://www.facebook.com/GovPritzker/photos/4109862535794742
Illinois' governor favors increasing schools' evidence-based funding for next year’s fiscal year, set to begin July 1.
“Because our fiscal outlook has improved, I'm now proposing to increase Evidence Based Funding for schools by $350 million," Gov. J.B. Pritzker said. "That means that parents, students and educators can breathe a sigh of relief. As an education advocate, I too am very happy that we can increase education funding," Gov. JB Pritzker wrote in a Facebook post.
The $350 million fund, aided by President Biden’s federal financial packages, forms part of Pritzker’s February proposal for financial uncertainty for education during the pandemic. This year would mark the second consecutive year the state denies the additional $350 financial relief allocation. The Illinois State Board of Education, as well as members of the General Assembly, have turned down the governor’s suggestion to keep funding at a flat rate.
A report recently released by the Commission on Government Forecasting and Accountability, indicates that increased revenue figures during this fiscal year point to an improved economic status in the near future. According to the report, base general funds saw a $1.779 billion spike in April 2021, partially caused by tax payment delays.
The state board has called for a 4.6% funding increase for the following fiscal year, and an additional $362.1 million for evidence-base systems and $50 million for early childhood education funds. The request would lead to a $9.3 billion state general revenue fund, used for the state’s main spending needs. No further details related to the ISBE budget were given.
"Revenue has continued to perform very, very well," said Harris, a Chicago Democrat, explained. "It's given families some disposable income, that has allowed them to go out and spend, you know, to support their families. And that has in turn, raised our income taxes and our sales taxes in the state."
Lawmakers continue to plan for upcoming budgets. Counting to see a budget deficit of approximately $1.4 billion next year, the governor’s proposal hopes to promote balance among the budget through various tax reformation, .he says
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