CHICAGO — A new report from the Illinois Economic Policy Institute warns that federal budget cuts under President Donald Trump could reduce Illinois’ annual economic activity by nearly $10 billion by 2029, costing the state 86,000 jobs and leaving revenues $540 million below projections. The cuts target Medicaid, food assistance, education, clean energy programs, and infrastructure projects, including a freeze on $2.1 billion for Chicago transit projects that could threaten 16,000 jobs. The report also highlights impacts from tariffs and reduced funding for public health and universities, noting that families and businesses may face thousands of dollars in higher costs while essential programs face shortfalls.
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