Monday, August 12, 2019

Illinois Statehouse Insider: It’s a budget miracle - Doug Finke, State Journal Register

Absolutely stunning news from the world of public finance. Illinois has a responsible budget. For the most part. The news came from Fitch Ratings, the third of the big credit rating agencies that pass judgments on public finance. In a report last week, the agency keep the state’s bond rating at just above junk status, but it raised its outlook of the state’s finances from negative to stable. Hoo, hah.  Governor Pritzker wasted no time in trying to determine what the state could do to close that college aid loophole. The nonprofit investigative journalism organization ProPublica reported last week that any number of wealthy families from the Chicago suburbs were exploiting what was described as a loophole in college aid programs to have taxpayer-funded aid programs pay for their kids’ college education.

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