FY 2025 Economic Forecast and FY 2024 Revenue Estimate Update

At different points of the fiscal year, the Commission releases its Economic Forecast and Revenue Estimate Update. The purpose of this document is to provide members of the General Assembly and their staffs with the latest data, trends, and forecasts related to economic activity that would impact tax revenues in Illinois. Along with these economic updates, the Commission typically includes a general funds revenue estimate update for the current fiscal year (and possibly future fiscal years), along with a comparison of how these figures compare with budgetary and/or GOMB revenue estimates. These revenue updates are often broken down by revenue source, thereby providing the reader with a more detailed look behind the revenue performance in a particular fiscal year.