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Borrowing Remains Part of Budget Plan
State lawmakers have voted in favor of the Democrat-sponsored plan to borrow nearly $4 billion to make a pension payment for Fiscal Year 2011. Under the bill, the state would owe around $1 billion in interest over four to eight years. The other option would have been to skip the payment, which could cost around $20 billion over 35 years.

Most Republicans are against the idea of borrowing more money when the state already suffers a $13 billion deficit. They prefer to make cuts in order to free up money for the payment.

The plan required 71 votes to pass the measure, but Democrats have 70 in the House so they needed one Republican vote. State Rep. Jack Franks (D-Woodstock) refused to vote in favor of the bill. State Reps. Bill Black (R-Danville) and Bob Biggins (Elmhurst), however, broke party lines and voted for the bill, giving it the 71 votes necessary.

Neither Black nor Biggins is running for re-election in November and therefore will not suffer consequences of the vote with constituents. It is rumored Biggins met with Gov. Pat Quinn and was promised a job in exchange for a yes vote.

SB 3514, a major component in the next year's fiscal budget, passed the House 71-44. The measure now heads to the Senate for final approval.

(Illinois Radio Network)
05 26 10 by Newsroom
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