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Illinois Lawmakers Rush to Pass Budget to Avoid Junk Credit Rating

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llinois lawmakers are rushing to pass a budget to make sure the state avoids a junk credit rating.

The Illinois House is pushing through a $36 billion spending plan that includes a $5 billion income tax hike in the hopes the Illinois Senate will pass it over concerns that credit-rating companies will give the state a bad credit rating if the state does not pass a budget, Bloomberg Markets reported.

The Associated Press reports that the Senate took no action on the House-approved budget as of Monday afternoon, but the legislature will be in session again Tuesday at 10 a.m. CDT.

Even if the bill passes the Senate, Gov. Bruce Rauner has vowed to veto the bill because of the $5 billion income tax hike.


They can rush all they want. From what I can tell it ain't going to pass!

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