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Governor Turns to Borrowing

Meanwhile, Governor Rauner is making an announcement on cutting the state's bill backlog. In a press release, Rauner announced he intends to exercise borrowing authority to issue $6 billion in bonds to pay down a portion of the state’s bill backlog. The borrowing is something Comptroller Susana Mendoza called for and will allow the state to pay a lower interest rate than the current interest rate penalty of 12 percent a year on its debt.

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