Illinois Munis Deliver Top Gains as Budget Shows Fiscal Progress

The budget deal that Illinois Governor J.B. Pritzker and legislative leaders struck Wednesday is the latest sign that the worst-rated US state is forging ahead with fiscal improvements, a backdrop that’s powering bonds from the Land of Lincoln to outperform the municipal market.

Pritzker, a billionaire Democrat in his second term, said he had reached a deal with top lawmakers for a roughly $50 billion budget. Legislative leaders said they expect passage of the spending plan for the fiscal year starting July 1 at week’s end.

Their resolve faces a test in the months ahead as an economic and ...