The Chicagoland Chamber of Commerce issued the following statement regarding Governor Rauner’s bill backlog borrowing plan announced earlier today:
“The Chicagoland Chamber fully supports the Governor’s decision to issue $6 billion in bonds to pay back a portion of the state’s bill backlog. For too long, the many Chicagoland businesses to whom the state owes this money have been forced to carry the state’s debt, waiting months, and even years, to be paid. With this act, Governor Rauner is providing much-needed cash flow and stability for these companies and their employees. While we all look forward to a day when Illinois boasts a strong and growing state economy, coupled with real fiscal restraint, that makes the need for this type of borrowing a thing of the past. Today, we see the Governor’s decision to borrow at a lower rate than taxpayers are currently paying as a fiscally responsible first step toward a stronger Illinois,” said Michael Reever, Acting CEO, Chicagoland Chamber of Commerce.