Gov. Rauner Authorizes Major Borrowing Plan

Sep 12, 2017

Illinois Governor Bruce Rauner is authorizing a major borrowing plan to pay down part of the state's nearly $15 billion dollar backlog of bills.

Lawmakers approved a state budget over Rauner’s veto earlier this summer.

That budget called for borrowing $6 billion dollars.

Rauner waited about two months to authorize that borrowing - racking up even more late fees for all the unpaid bills.

In an interview with WBEZ - Rauner says the budget is still not balanced - but he wants to bring discipline to the state’s finances.

RAUNER: I’ll be working with the General Assembly to get the budget truly balanced for the first time in decades. I’ll never give up on that.

Rauner says he’s proposing $500 million dollars in cuts.

But those would still need lawmakers’ approval.