Report: Quinn wants to take out $15B loan

December 28, 2010 5:31:23 AM PST
Governor Pat Quinn reportedly has a way to deal with the state's overdue bills.

The Chicago Tribune says the governor is considering taking out a roughly $15 billion loan that would satisfy the state's obligations to schools, healthcare facilities and social service agencies. Those groups have laid off workers and cut services because the state has been late on its payments.

The money would also plug the state's budget deficit. But the fix would last for only a year, and paying off the loan would be another issue.

State lawmakers are expected to consider the issue when they return to Springfield next week.


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