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July 25, 2014, 1:43 am
970 WMAY News

Good News, Red Flags On Illinois Economic Outlook


Governor Pat Quinn is touting new estimates that predict Illinois will lead the Midwest in economic growth over the next six months. 

 

The Federal Reserve estimates nearly two-and-a-half percent growth in the state through the end of the year… compared to one-and-a-half for Indiana, just over one-and-a-quarter for Wisconsin, and less than one-percent for Missouri.

 

But at the same time, Wall Street has new worries about llinois’s fiscal future after a state Supreme Court ruling last week. 

 

The high court ruling that retiree health insurance plans are protected benefits under the state constitution raises significant questions about the future of the recent pension reform law.  If that law is struck down, Moody’s says that will create severe financial problems that will harm Illinois’s credit rating.

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