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A progressive income tax may not boost the state's near-junk rating unless revenue is used to address the pension problem.
June 25 -
Cook County, Illinois president says new taxes or fees are on table to close the shortfall.
June 20 -
The Oversight Board has reached an agreement with the Committee of Retirees that makes a flat 8.5% cut to pensions over $1,200 a month and does not change payments to the 61% of current retirees who receive monthly pensions of $1,200 or less.
June 19 -
Deputy Governor Dan Hynes says the recent legislative session put the state on an "upward trajectory," but underfunded pensions dog the state.
June 11 -
A judge denied Chicago's request for a restraining order to stop the state comptroller from intercepting state grant money on behalf of city pension funds.
June 7 -
The retirement system has said it may run out of money in 2020 or 2021.
May 31 -
An analysis says Philadelphia is on a path toward paying down its liabilities, though the funding burden will continue to crowd out other priorities.
May 31 -
Minority Republicans had gummed up progress by forcing the House clerk to read every line of every bill, before two members broke ranks.
May 30 -
Scott Waguespack will chair the committee that vets city bond deals and other financial transactions.
May 30 -
Illinois lawmakers gave first-year Gov. J.B. Pritzker a victory on a cornerstone of his fiscal plan for the troubled state.
May 28