It’s not a new story, but the state’s comptroller is telling it anyway.
Illinois experienced a surge in tax revenues, because of a combination of the spring tax season and changes in federal tax laws, says Judy Baar Topinka.
“We’ve had more money than we can pay down the bills,” she says, “I just don’t want the legislature and the governor or anybody else getting all excited about this, and they start thinking they’ve got money to spend.”
Topinka says Illinois has cut the bill backlog from $8.5 billion six weeks ago to $5.8 billion now. And the bills the state is paying now are as of April 8, compared to the December bills at the start of April.
But she predicts the finances will return to their former status soon enough, such that the backlog will be $7.5 billion in August.