* 1:05 pm - The leaders meeting is over. We’ll post videos of all the post-game action. Here’s Senate President Cullerton, who left first and announced, as expected, that the special session will start next Tuesday.

Cullerton talked about making some “minor changes” to the capital bill next week. He also responded to Senate GOP Leader Radogno’s claim that the budget crisis is being “manufactured”…

...Adding… Cullerton claims at the end of the video that the Republicans have yet to offer any specific budget cuts.

* 1:32 pm - Speaker Madigan talks about the income tax increase. “There are not 60 Democrats” who would be willing to support an income tax increase.

Madigan also takes a question about whether he’s trying to embarrass Gov. Quinn to help his daughter’s gubernatorial campaign and whether the crisis helps Lisa Madigan and hurts the governor…

The governor says at the end of the above video that he may issue a special session proclamation, but it may not be necessary.

* 1:35 pm - The two Republican leaders speak to reporters…

…Adding… Oops. I missed Part 1 of the GOP leaders…

* And here’s Gov. Quinn…

* 1:52 pm - You knew this had to happen sooner or later. How Daley can justify this promised subsidy while he’s laying off city workers and refusing to bargain in good faith with the police union is beyond me, but whatever…

In a major change of position, Mayor Richard Daley told the Tribune Wednesday he will sign the standard Olympic host city contract, which would give the city full financial responsibility for mounting the 2016 Summer Games.

The city had been seeking exceptions to the contract because its bid is backed only by limited financial guarantees. This has been an Achilles’ heel for the bid because the other three finalists — Madrid, Rio de Janeiro and Tokyo — are offering full government guarantees.

“We are going to sign it as is,” Daley said after Chicago’s presentation to the International Olympic Committee members Wednesday morning.

* 1:55 pm - The Tribune report on the leaders meeting…

Lawmakers will return to Springfield next week, but don’t expect them to deal with the state budget shortfall.

Instead, they’ll be back at the Capitol to fix some paperwork problems involving a massive public works plan.

Gov. Pat Quinn met for two hours today with Democratic and Republican leaders for two hours at his Chicago office, but once again failed to agree on an income tax increase. Quinn said that’s necessary to prevent widespread cuts to social service programs and mass layoffs.

They emerged talking about the need to clean up the construction program legislation, but even that isn’t a done deal. Quinn said he thinks a construction plan should be linked to a budget resolution.