Column: State revenue gains continue to fall under category of ‘modest’ – Champaign News-Gazette

Jim Dey: Revenue manager Eric Noggle noted that income-tax revenue continues to provide an increasingly large share of state revenues. He said it is expected “to account for approximately 60 percent of total FY 2026 revenues,” saying that represents a significant shift from prior decades. “As recently as FY 2004, income taxes made up roughly 30 percent of all revenue,” he said. “This growing reliance reflects a combination of income-tax rate increases, most recently in FY 2018, and the relatively stagnant or declining performance of other revenue sources.”