Illinois is one of a dozen states in the country that are at risk of cutting programs when the federal government’s stimulus package expires in two years. The Coronavirus State and Local Fiscal Recovery Funds were handed out to states, cities and counties that saw tax revenues plummet during the pandemic due to lockdowns. A report by the Volcker Alliance says some states spent the money wisely, while others, not so much.
That is the author of the report Beverly Bunch, who says Illinois faces a moderate to elevated risk of encountering that fiscal cliff if it doesn’t find money to replace those federal dollars.
Bunch says if a state has allocated one-time funds to address recurring needs, it should track that spending and plan for what will happen when the funding expires.
Story from Illinois Radio Network
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