CHICAGO (CBS) — A Chicago business leader said local companies can live with tax increases in the budget plan being worked out by Illinois Senate leaders, but they want to see other reforms in the so-called “Grand Bargain”.

Theresa Mintle, President of the Chicagoland Chamber of Commerce said her group is encouraged that Senate President John Cullerton and Senate Republican Leader Christine Radogno are forging ahead with their attempt at resolving the year and a half budget impasse. But the bottom line will be the final package. WBBM Political Editor Craig Dellimore reports from City Hall.

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“A balance budget is critically important,” Mintle said. “But a balanced budget, for the sake of just having a balanced budget, is not enough. We want to make sure that what comes out of the grand bargain, and eventually is considered by the House of Representatives, really looks at a larger economic perspective for Illinois.”

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Mintle said her group does not oppose any particular tax proposal and is not in favor of any specific budget reform. But she said businesses want more than a budget that is balanced for balance sake.

“The Chicagoland business community certainly understands that in order for Illinois and Chicago to work well, we do need a government that is high functioning, that is not in physical disarray, and with that sometimes it requires not only revenue, and including new revenue, but also some fiscal and regulatory reform,” Mintle said.

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WBBM talks about the state budget and the business community on our At Issue program this weekend. Listeners can hear more Sunday at 9:30 a.m. and 9:30 p.m.