Health Care

Illinois considers huge tax hike as showdown continues, credit downgrade looms

As Illinois attempts to strike a budget deal to end the country’s longest running state spending impasse, the infighting between Republican Governor Bruce Rauner and the Democratic controlled General Assembly shows no signs of waning despite progress made toward passing a $36 billion spending package early this week.

Business Highlights

___ 'Like bombs': Bankrupt company's air bags still out there Takata Corp. has filed for bankruptcy, brought down by a scandal involving defective air bags blamed for at least 16 deaths.

Illinois' financial crisis has 'hurtled out of control'

The Illinois State House took an early step toward ending a devastating two-year budget impasse Friday, but with many challenges remaining and a critical deadline drawing near, the state’s workers are worried about a complete lack of stability.