CHICAGO (AP) — Illinois remains in deep budget trouble and could be $8.3 billion in the red by next June, according to a report released Monday by a Chicago watchdog group.
The budget problems persist despite a significant boost in the state's income tax rates for individuals and businesses passed by the Democrat-controlled Legislature and signed earlier this year by Gov. Pat Quinn.
"We're continuing to lose ground. It's a wake-up call and a reminder that we still have a big issue facing the state of Illinois," said Laurence Msall, president of the Chicago-based Civic Federation, which issued the report.
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