The budget proposal includes no reforms to pensions or other cost drivers, misleadingly labels various business tax increases as ‘closing corporate tax loopholes,’ and relies on gimmicks that conceal true deficits. And there’s a new gas tax.

Delivered virtually Feb. 17, 2021, from the Illinois State Fairgrounds

A new report from government finance watchdog Truth in Accounting gave the Windy City an “F” for financial health. Chicago’s massive $36 billion net debt stems primarily from pensions.

A new ranking puts Illinois’ corporate tax rates near the top. Still, Gov. J.B. Pritzker wants to extract $900 million more from corporations after failing to stop up to $1 billion in COVID-19 tax credits for small businesses.