Taxes

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.

Credit houses send Illinois positive financial signals

Two of the nation's top credit-rating houses smiled favorably on Illinois' financial outlook Monday following votes the previous day in the House of Representatives to end the nation's longest budget standoff.

Maine governor: Put aside 'petty egos' and send me a budget

Republican Gov. Paul LePage urged lawmakers on Sunday to put aside "petty egos" and send him a budget as a legislative panel sought common ground on a proposal promoted by House Republicans who torpedoed the previous spending bill.

Some Republicans defy Gov. Rauner and back tax increases

The Illinois House approved $5 billion income tax increase on Sunday, followed by a spending plan for the new fiscal year, with some Republicans defying Gov. Bruce Rauner and joining Democrats in a dramatic step to break the nation's longest-running budget stalemate.