Includes “When Illinois lawmakers met in Springfield to pass a budget for the upcoming fiscal year, the main issue they confronted was the tax shortfall caused by COVID-19. They did not want to include revenue from a proposed graduated income tax, which will only be available if voters approve the plan in November 2020. Instead, the $43 billion budget passed on May 24 depends on $5 billion in borrowing through a new Federal Reserve program and about $1.2 billion in other debt. …”