Quinn Says "More More More!!!"
Taxpayers might have expected that state government was back on solid financial footing after lawmakers approved a major income tax increase that's already being docked from their paychecks.
But Gov. Pat Quinn says Illinois' books were so neglected for so long that the money isn't coming in fast enough to repay billions owed to schools, doctors, mental health centers and other providers.
So during his budget speech Wednesday, Quinn is expected to push a plan to borrow $8.75 billion to help alleviate the pressure.
- The idea is to use the cash infusion to whittle down the bill backlog from a mountain to a molehill and rush payments to the 36,000 vendors owed an estimated $7 billion. The loan would be paid back over 14 years using money generated by a portion of the income tax hike.