Extra legislative session on Saturday. Lawmakers eying $41 billion budget with $5 billion in borrowing – Capitol News IL

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debtsor
6 years ago

“Sen. Andy Manar, D-Bunker Hill, one of the Senate’s lead budget negotiators, said the package will look similar to the current year’s budget of a little more than $41 billion, although it will rely on borrowing up to $5 billion from the Federal Reserve to make up for a sharp loss in revenue caused by the COVID-19 pandemic. The plan is to pay that money back with federal aid to states that lawmakers expect Congress to approve soon.” This is delusional. Federal aid is NOT a done deal and the GOP – which controls the senate and the presidency –… Read more »

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