By Dave Dahl
SPRINGFIELD – The bond house Moody’s has put Illinois leaders into a good…mood.
“The State of Illinois received its first credit upgrade in more than twenty years,” crowed Gov. JB Pritzker in a hastily called news conference in his Springfield office. “After eight credit downgrades our state suffered under my predecessor, I saw with full certainty Illinois’ fiscal condition is headed in the right direction for the first time in the 21st Century.”
The upgrade is from Baa3 to Baa2 for general obligation credit.
Pritzker also bragged about a third balanced budget in a row, with no tax increase. Republicans and business groups are likely to disagree with both of those things, particularly the “closing corporate loopholes” – alternately referred to by Pritzker as “corporate welfare” – that mean more than $600 million.
Dave Dahl can be reached at News@WJBC.com.
