budget impasse

Gov. Rauner Authorizes State Borrowing Plan

Sep 13, 2017
Phil Masterton / WNIJ

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.

Even though a state budget was finally passed earlier this summer, the process for paying allocated funds is not automatic. Social service agencies are waiting for money owed to them by the state.

EIU

Illinois has tapped nearly $700 million in existing funds to make the first payment to colleges and universities they've received in seven months.

Comptroller Susana Mendoza announced the payment Thursday.

It includes $327 million owed for the needs-based Monetary Award Program for 110,000 college students for the past school year.

The Democrat made the announcement in Charleston. She presented a nearly $6 million payment to Eastern Illinois University President David Glassman.

Gov. Rauner Aims To Send Message With Staff Shakeup

Jul 13, 2017
NPR Illinois

Gov. Bruce Rauner failed to get much of his budget requests in the recent legislative session. Now there's fallout in the top ranks of his administration.  

Less than a week after the legislature overrode the governor's vetoes -- passing a budget and tax increase -- Rauner dismissed his Chief of Staff, Communications Director and others.  

A credit ratings agency has removed Illinois from a credit watch since legislators approved a budget and ended a more than two-year impasse.

S&P Global Ratings said Wednesday the outlook on debt ratings is stable. 

Illinois has the lowest credit rating of any state and agencies had warned of another downgrade to “junk'' status if lawmakers didn't approve a budget. The stalemate between Republican Gov. Bruce Rauner and the Democrat-controlled Legislature began in 2015. This month, legislators approved a budget with an income tax increase over Rauner's vetoes. 

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