Rep. Steven Reick (R-Harvard) said during a June 16 House floor debate the state’s more than $5 billion unemployment fund deficit was a “sort of Damocles that’s hanging over” the legislature.

Last week, Illinois received another round of good financial news when Fitch Ratings upgraded its credit outlook for the state to positive. The ratings agency, which previously had a negative outlook for Illinois, said the change reflects the state’s “preservation of fiscal resilience” while noting the Fiscal Year 2022 budget signed by Gov. JB Pritzker this month indicated “further improvements in operating performance and structural balance.”