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News Link • TAXES: State

IL Finances A Mounting Crisis

The State of Illinois' pile of unpaid bills has grown to a record-breaking $3 billion. Comptroller Dan Hynes said Tuesday it's never before been this bad at this point in any previous fiscal year. CBS 2 Political Editor Mike Flannery reports that some social service agencies that rely heavily on state reimbursement warn they will soon be forced out of business.

Hynes said that things are likely to get worse before the state's bleak revenue picture begins to improve. 

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