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Latest Illinois Borrowing Has Upside, Watchdog Says

Posted on September 08, 2017

WBBM News Radio

This article discusses Illinois Governor Bruce Rauner's plan to borrow $6 billion to pay off a portion of the State’s backlog of overdue bills. Civic Federation President Laurence Msall remarks that the borrowing plan makes sense because the roughly six-percent interest rate the State will likely pay on the borrowing is lower than the penalty rate on many of the overdue bills, which can be nine or 12 percent.