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flag Illinois' credit rating improved to A2 due to better finances, but deficits and tax debates persist.

flag Moody’s upgraded Illinois’ credit rating to A2 from A3, citing improved fiscal management, record $2.4 billion in reserves, and timely budget passage since 2019. flag The 10th upgrade under Governor JB Pritzker reflects progress in reducing unpaid bills and enhancing financial stability, though challenges remain, including high pension liabilities and debt. flag The state faces a projected $2.2 billion deficit next year and ongoing fiscal pressures from rising costs and property taxes. flag Meanwhile, lawmakers debate expanding tax breaks for large developments, sparking concerns over unfair tax shifts to homeowners.

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