Comptroller Judy Baar Topinka says the state owes $7.1 billion in unpaid bills. But she’s against a proposal to borrow $4 billion to make some progress on the pile.
“You get a short-term feeling of aah … and you’re going to have a long-term feeling of ugh” when you borrow money, Topinka told members of a House committee.
Priority would go to health care providers, universities, school districts, local governments, and vendors, under a bill sponsored by State Rep. Esther Golar (D-Chicago).
“We owe vendors money,” said state Central Management Services director Malcolm Weems, “some of which are small Illinois businesses that really have been put in dire straits.” He added those businesses are becoming discouraged from selling goods and services to the state.
The committee heard testimony Tuesday afternoon but did not vote on the proposal.
The proposal is HB 6240.
(posted 10:20 p.m. 11/27/2012 by Alex Degman)