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Pritzker Unveils $56 Billion Budget, Targets Social Media Taxes

2/19/2026

Summary

Story summary

Illinois Governor J.B. Pritzker proposed a $56 billion budget for fiscal year 2027 to tax social media companies and address rising costs.
The plan increases spending by $878 million and maintains existing programs without broad tax hikes, funding education and housing initiatives but lacking significant new spending.
Pritzker criticized the administration of U.S. President Donald Trump for funding cuts affecting state resources.
Lawmakers must finalize the budget by May 31.

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Story summary

Illinois Governor J.B. Pritzker proposed a $56 billion budget for fiscal year 2027 to tax social media companies and address rising costs.
The plan increases spending by $878 million and maintains existing programs without broad tax hikes, funding education and housing initiatives but lacking significant new spending.
Pritzker criticized the administration of U.S. President Donald Trump for funding cuts affecting state resources.
Lawmakers must finalize the budget by May 31.