Quinn pushes for state to borrow
Gov. Pat Quinn said Wednesday that borrowing should be part of a final budget compromise, even though the Illinois House voted against a major borrowing plan for pensions three times last week.
Speaking after the Governor's Prayer Breakfast, Quinn said "strategic" borrowing is a better approach than leaving state vendors with mountains of unpaid bills.
Quinn has pushed the idea that Illinois should borrow to get the $3.8 billion that it owes to state pension systems in the next budget year.
However, the House twice voted against borrowing the entire amount and also against a proposal to raise half the amount by selling bonds to investors and issuing the other half as bonds to the pension systems themselves.
Quinn has been talking with lawmakers to drum up support for a budget compromise, but he did not discuss details of what those talks entail.
State Capitol Bureau