Illinois Comptroller Judy Baar Topinka reported that one year after Illinois raised individual and corporate income tax rates, the state remains in a precarious fiscal position with persistent payment delays -- and the situation is unlikely to significantly improve in the near-term.
The backlog of unpaid bills from the General Funds in the Comptroller's office (ioC) alone stood at $4.273 billion at the end of this quarter -- and that number only tells part of the story. Specifically, the total accounts only for what has been submitted to the Comptroller's office for payment, and not what is being held by state agencies.
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