State revenues surged in previous fiscal year – Capitol News IL

A report from the Commission on Government Forecasting and Accountability showed base receipts to the General Revenue Fund jumped nearly $6.8 billion, or 17.8 percent, during the fiscal year, fueled by big increases in personal and corporate income taxes and retail sales taxes. That growth does not include money the state borrowed from the Federal Reserve last year or any of the money the state routinely borrows on a short-term basis from other state funds.