Illinois' financial challenges remain despite income tax increase

Chicago Tribune: A new Illinois income tax increase means workers soon will see 1.2 percent more taken out of their paychecks, but even that money isn't going to be enough to completely straighten out state government's finances.

The state still has unpaid bills hovering around $15 billion, and that number could rise as more come in with the fog of the record-setting budget impasse lifting. There are cash flow issues that mean covering monthly expenses remains a challenge, at least for a while. And a whopping $130 billion shortfall in government worker pension systems has not been addressed, with the options for doing so limited by the courts.

Read article