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Illinois Taxpayers to Pay for State's Credit Woes



Illinois Taxpayers will ultimately feel the pain of the state's most recent credit downgrades.

State Treasurer Dan Rutherford says they'll be dishing out millions of additional cash to pay for a billion dollar bond issue that Governor Pat Quinn is trying to secure. 



Illinois took two credit hits this week.

Both Fitch's and Moody's Rating Agencies cut the state's credit because of its failure to shore up its pension systems.

Governor Quinn says the downgrades should be enough to convince lawmakers to put a comprehensive pension package on his desk as soon as possible.

Quinn has called them back to session June 19th to work out a deal.

Filed Under :  
Topics : Business_FinanceLaborSocial Issues
Social :
Locations : Illinois
People : Dan RutherfordPat Quinn