http://stream.publicbroadcasting.net/production/mp3/wium/local-wium-965391.mp3
Macomb, IL – The Illinois Comptroller's office has indicated the state has around $6.5 billion in unpaid bills. State Senator John Sullivan (D-Rushville) believes a borrowing plan is needed to pay off that backlog.
Sullivan feels it's unfair to continue delaying payments.
"We're using our school districts and universities and health care providers - we're using them as our credit card, basically. They are carrying our debt for us," Sullivan said during an interview at the Tri States Public Radio studios.
Sullivan said the only other option is to pay off the debt with state revenues as they come in. But he said it could take five to ten years to settle debts that way.
Sullivan said he is open to suggestions about the repayment schedule and how much the state should borrow.
"I want to work with the comptroller (Republican Judy Baar Topinka), the treasurer (Republican Dan Rutherford), and the Office of Management and Budget to structure those payments to where it doesn't put us in too much of a bind," Sullivan said. "I'm willing to work with them and come up with an amount that's agreeable."
He is "cautiously optimistic" that a plan will be approved before the legislative session concludes near the end of May.
Borrowing plans require more than a simple majority. Sullivan said at least three-fifths of lawmakers need to approve such a plan, which means bi-partisan support will be needed.
He also said safeguards have now been built into law to prevent the state from accumulating another mountain of debt.