CHICAGO -- Illinois is facing a $298 million revenue shortfall in its general fund budget for fiscal 1992, according to a financial forecast released this week by the state General Assembly's Economic and Fiscal Commission.

The bipartisan commission's forecast showed general fund revenues totalling $14.4 billion on June 30, the end of fiscal 1992 -- $298 million less than the Bureau of the Budget's latest estimate of $14.7 billion, mainly due to lower-than-expected sales and corporate income taxes and a projected $169 million dropoff in federal funding.

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