It’s a prairie puzzler in Illinois: What happened to all the money?
Ten months after the largest tax increase in its history, Illinois is unable to give scheduled raises to its workers. The backlog of unpaid bills is $4 billion and years from resolution. The current budget, despite $7 billion in new revenue, isn’t balanced. Businesses, even as they argue that government pension costs are unsustainable, will clamor for tax cuts during a legislative session that starts today in Springfield.
