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Blagojevich, Lawmakers Agree on Tax Proposal

By AP/KWMU

Springfield, Ill – Illinois Governor Rod Blagojevich said he and legislative leaders have agreed on closing some of what he calls corporate tax "loopholes."

And Blagojevich says there's "consensus" on taking what he says is surplus money in special-purpose funds to shore up the state's general account.

The General Assembly's May 31 adjournment deadline passed without agreement on the $54 billion spending plan.

Leaders are trying to close a $2.3 billion deficit before the new budget year takes effect July 1.

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