Speaker Welch Celebrates Signing of Balanced Budget that Supports Families and Prioritizes Fiscal Health
CHICAGO, Ill. – House Speaker Emanuel “Chris” Welch joined Governor JB Pritzker, Lieutenant Governor Juliana Stratton, Senate President Don Harmon, and the House and Senate budget leaders to celebrate the signing of the FY25 state budget package. The budget cuts debt, prioritizes hardworking families, and makes smart investments for Illinois’ future.
“Once again, we’ve passed a smart, equitable budget that prioritizes our fiscal health, reflects our values, and meets the needs of the most vulnerable,” said Speaker Emanuel “Chris” Welch. “I’m proud to stand alongside my colleagues in the House, the Senate, President Harmon, and Governor Pritzker advancing our shared commitment to responsible investments for our future.”
“The FY25 budget is another demonstration of the fiscal responsibility that has guided me from Day One of my administration,” said Governor JB Pritzker. “This budget is balanced, pro-family, cuts taxes on workers, and opens up doors of opportunity for employers and employees alike. I’m proud to sign it today and look forward to working together to bring these investments to life in a healthier, more prosperous Illinois.”
"With the signing of the FY25 budget, we are reaffirming our commitment to the people of Illinois," said Lt. Governor Juliana Stratton. "This budget is more than just a financial plan; it's a pledge to invest in our children, support our families, and strengthen our communities. I thank Governor Pritzker for his unwavering leadership in creating a budget that champions equity and opportunity for all."
“This is a budget that is built on making a difference,” said Senate President Don Harmon (D-Oak Park). “Today, Illinois is stronger than it has ever been. Over the past six years we’ve overcome unprecedented challenges to truly turn around Illinois and set the course for a better tomorrow.”
“When we are responsible with our budget, we’re better prepared to address the real challenges facing families across Illinois,” said Speaker Pro Tempore and House Budgeteer Jehan Gordon-Booth (D-Peoria). “This is a compassionate, human-centered plan that invests in our youth, reinforces public safety efforts and prioritizes access to critically-needed healthcare. I appreciate the hard work put into this document by my colleagues, the Governor and advocates across Illinois who want to make this a better state for all. Together we’re making smart investments in our future that will help to create opportunity in every community.”
“The budget signed today builds upon our strong, smart spending decisions of recent years that have led Illinois to not just one credit upgrade – but nine,” said Senate Majority Appropriations Leader Elgie R. Sims, Jr. (D-Chicago). “I am proud of the steps we took to continue Illinois on the right path. We didn’t just look at fiscal outcomes, but prioritized our most vulnerable populations – educating our young people, keeping our communities safe, creating good jobs, and growing our economy.”
The FY25 budget includes nearly $200 million into the state’s “Rainy Day” Fund, more than $500 million in increases for education funding, millions for birth equity initiatives, elimination of the statewide grocery tax, and $50 million for the creation of Illinois’ first ever child tax credit to provide some needed relief for hardworking families.
In just a few short years, Illinois has received nine credit upgrades, increased a once-depleted “Rainy Day” fund to more than $2 billion, and paid off nearly $8 billion in bill backlog.