Bloomberg Law
May 25, 2023, 5:12 PM

Illinois Munis Deliver Top Gains as Budget Shows Fiscal Progress

Shruti Date Singh
Shruti Date Singh
Bloomberg News

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 ...

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