Posted March 7, 2017 5:41 pm by Comments

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Illinois could be $657 million short on revenue for the current fiscal year due to falling tax collections, according to a revised forecast released on Tuesday by a legislative commission.

The Commission on Government Forecasting and Accountability (COGFA) reported that revenue from personal and corporate income taxes and sales taxes was down 5 percent in the first eight months of fiscal 2017, compared with the same period in fiscal 2016.

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