Illinois Tax Collections For 2013 Higher Than Expected

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SPRINGFIELD - Illinois is on pace to end its fiscal year with approximately $1.2 billion in additional revenue, according to state officials.  The budget constructed by lawmakers was originally estimated to be $35.4 billion.

The additional money is thanks to better-than-expected personal income tax collections and sales taxes.  However, the increase in revenue is to be thought of as a one-time occurrence, since the state expects a significant revenue decrease next year due to an expected decrease in the income tax rate.
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