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Report: Illinois could be short $8.3B this year

The $8.3 billion shortfall predicted by the time the fiscal year ends in June includes $5.5 billion in unpaid bills and another $2.8 billion from a payment backlog for Medicaid, employee health insurance bills and business tax refunds, the report said.

By Deanna Bellandi | Updated on September 26, 2011

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.

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