Critics are already predicting a massive business exodus now that the state income tax increase passed, but some say this could be just the budget savior Illinois has been waiting for.

Elizabeth Brackett and her panel debate whether the tax proposal is good enough to solve the state's long-term budget problems.

Chicago has the highest gas prices in the nation. Newsradio 780's Kris Kridel has that and more in our business report.

This week on Chicago Tonight: The Week in Review: a judge rules mayoral candidate Rahm Emanuel can stay on the ballot, but the battle rages on in court. Meanwhile, Carol Moseley Braun flip-flops and releases her tax returns, which show she is in deep financial trouble. An income tax hike looks like it's a done deal, courtesy of the lame-duck Springfield session. President Obama names Bill Daley as his new White House Chief of Staff. A surprising new report reveals $820,000 of lavish spending on parties, booze and a bug sweep under former Chicago School Board presidents.

Cook County faces a budget shortfall of almost $500 million, and new Cook County Board President Toni Preckwinkle has ordered across-the-board cuts. Eddie Arruza talks to three top officials about how they plan to comply.

The market made huge gains last year, but how's the financial forecast shaping up for 2011? We place our bets tonight, and find out what that might mean for your 401(k).

How will Cook County close a $487 million budget gap? Newly sworn-in Cook County Board President Toni Preckwinkle joins Carol Marin for a one-on-one interview.

Governor Quinn reportedly wants to borrow $15 billion to bridge the state's biggest-ever budget gap. Will that only worsen Illinois' finances, and will anyone even loan the state that amount of money? Eddie Arruza and his guests weigh the options.

We learn about the newest holiday party trend -- ugly sweaters. WBBM Newsradio 780's Kris Kridel joins us with that story and a recap of the year in Chicago business.

On this week's edition of Chicago Tonight: The Week In Review hosted by Phil Ponce: Mayoral candidate Rahm Emanuel spent almost 12 hours testifying at a hearing to determine whether he can stay on the February ballot, and the questioning ranged from the serious to the comical. His tenant contradicted some of Emanuel's testimony about the possessions the family left behind. And in a strange twist, Emanuel's real estate broker testified that the tenants demanded $100,000 to vacate the house.

Joel Weisman and his panel of journalists look back at the year in a special year-end edition of Chicago Tonight: The Week in Review.

The $858 billion tax cut proposal has cleared the Senate and is on its way to the House. Carol Marin and her panel have more on what an extension of the Bush-era tax cuts would mean for the economy, the deficit, and your pocketbook.

Illinois is number one on the list of worst states for retirement. We find out why when WBBM Newsradio 780's Kris Kridel joins us to look at the week in business.

On this week's edition of Chicago Tonight: The Week In Review: legendary Cubs third baseman and broadcaster Ron Santo dies in Arizona; the Illinois legislature passes Civil Unions, granting same-sex couples some of the same rights as those currently married; police and firefighter pension reform also passes; Mark Kirk is sworn in as Illinois' junior U.S. senator; and controversial Cook County Board President Todd Stroger is out. Chicago-based Groupon is targeted to be gobbled up by Google for more than $5 billion.

Elizabeth Brackett and her guests take up the debate over police and firefighter pensions. The Commercial Club of Chicago Illinois Public Pension Fund Association

Cash and favors are allegedly "pouring" into many Chicago bar owners' pockets. Elizabeth Brackett and her panel have more on a Crain's Chicago Business investigation that found pay-to-play practices involving Chicago's beer industry.