state budgets

Illinois Gov. Bruce Rauner speaks to reporters in front of his office at the State Capitol in Springfield, on June 30, 2016. Illinois lawmakers had just passed a stop-gap budget. More than a year later, legislators have finally reached a budget deal, whic

National
Politics & Government

Illinois Governor Vetoes Budget Deal; Legislators Begin Override

4:14pm July 04, 2017

by Camila Domonoske

Illinois hasn't passed a budget for two years. The state has billions in unpaid bills. Lawmakers finally struck a deal, including a tax increase — but Republican Gov. Bruce Rauner isn't on board.

Alan Krueger, chairman of the president's Council of Economic Advisers, warns that consumer spending will drop if Congress and the White House fail to reach a deal on spending cuts and tax increases.

National
Economy
Politics & Government

Looming Spending Cuts Would Hit Hard All Over

6:09pm December 05, 2012

by Jim Zarroli

If Congress fails to reach an agreement on tax increases and spending cuts this year, it will mean sharp reductions in a broad swath of federal spending, from defense and Medicare to education and unemployment benefits. Economists say the cuts would be a serious setback for the economy as a whole.

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