Illinois Gov. Bruce Rauner is authorizing a major borrowing plan to pay down part of the state’s nearly $15 billion backlog of bills.
Lawmakers approved a state budget over Rauner’s veto earlier this summer, which called for borrowing $6 billion. 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 said the budget still is not balanced, but he wants to bring discipline to the state’s finances.