Illinois bill backlog stands at nearly $16.4B

By Brendan Bakala

11/01/2017

The state has embarked on a plan to sell more than $6 billion of bonds in order to reduce annual interest payments and help pay off the bill backlog.

TAGS: credit rating, unpaid bills

Illinois’ new budget already has $1.7B hole despite largest permanent tax hike in state history

By Ted Dabrowski, John Klingner

10/14/2017

Every budget through 2023 will likely be unbalanced as well.

TAGS: balanced budget requirement, budget, credit rating, Governor’s Office of Management and Budget, income tax, Moody's Investor Service, taxes, unpaid bills

Illinois state budget already in deficit despite record $5 billion tax hike

By Ted Dabrowski, John Klingner

09/25/2017

With the 2018 budget set to spend at least $1.3 billion more than it takes in, members of the General Assembly have hoodwinked Illinoisans once again.

TAGS: budget, COGFA: Commission on Government Forecasting and Accountability, debt, LGDF: Local Government Distributive Fund, pensions, unpaid bills

Illinoisans get $6B more in long-term debt, but no reforms

By Ted Dabrowski, John Klingner

09/08/2017

While borrowing to help pay down the state’s unpaid bill backlog will save money on interest payments and relieve pressure on those waiting for cash, it also perpetuates Illinois’ spending problem.

TAGS: borrowing, Bruce Rauner, credit rating, pensions, unpaid bills

Illinois comptroller’s plan to pay off state’s bill backlog includes borrowing more money

By Marianna Schmiesing

07/18/2017

Even with 32 percent tax hike, Illinois State Comptroller expects only $5 billion of the state’s unpaid bills to be paid down.

TAGS: budget, Susana Mendoza, unpaid bills

Illinois’ unpaid bill backlog grows to more than $15B

By Marianna Schmiesing

06/20/2017

The state’s backlog of unpaid bills is expected to reach $22.7 billion if Illinois goes a third fiscal year without a budget.

TAGS: Bruce Rauner, budget, unpaid bills

Illinois budget deficit projected to hit $6.2B by June 30, grow to $7.7B by June 2018

By Eric Kohn

06/08/2017

The state’s bill backlog is expected to hit $22.7 billion and pension costs are predicted to grow 14 percent by fiscal year 2018.

TAGS: budget, credit rating, David McSweeney, debt, Moody's Investor Service, Standard & Poor's, unpaid bills

Illinois owes $3.5M in past-due utility bills

By Brendan Bakala

05/23/2017

The state government owes the City Water, Light and Power of Springfield $3.5 million on past-due utility bills for state offices. The past-due utility bills are just one part of Illinois’ more than $14.3 billion bill backlog.

TAGS: budget, debt, ILGA: Illinois General Assembly, unpaid bills

Illinois’ unpaid bills jump to $14.3B

By Brendan Bakala

05/17/2017

New numbers from the Illinois comptroller’s office show that Illinois’ unpaid bill backlog has climbed to more than $14 billion. In August 2016, Moody’s Investors Service predicted Illinois’ bill backlog would reach $14 billion by summer 2017.

TAGS: budget, debt, Moody's Investor Service, unpaid bills

Unbalanced Budget Response Act would allow Rauner to make cuts to balance the budget

By Amy Korte

03/28/2017

Illinois House Bill 3868 would give Gov. Bruce Rauner the authority to trim costs and reorder the state’s spending priorities to balance the budget.

TAGS: balanced budget requirement, Bruce Rauner, budget, DCEO: Department of Commerce and Economic Opportunity, debt, Fitch Ratings, ILGA: Illinois General Assembly, Illinois Constitution, Jim Durkin, Mike Madigan, spending, unpaid bills