Illinois Budget Deal Collapses, Intensifying Financial Crisis
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Illinois’s financial crisis deepened Sunday as the Democratic-controlled legislature and Republican Governor Bruce Rauner failed to reach an accord over a spending plan for the budget year beginning July 1.
The collapse of negotiations occurred hours before the scheduled end of the legislature’s budget session, meaning any compromise to close a $6.2 billion deficit now will require a tougher-to-obtain three-fifths vote to approve. The stalemate leaves the nation’s lowest-rated state in danger of another downgrade.