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Comptroller Mendoza claims Illinois paying its bills but needs more federal bailout to avoid a big one

JANUARY 4, 2022 | by Mark Glennon | WIREPOINTS

By Mark Glennon, includes “… she and financial officers from seven other states asked for a waiver of any interest on loans made by the Treasury during the pandemic to shore up broke trust funds used to pay unemployment insurance. Illinois owes the Treasury about $4.5 billion on its loan and interest costs will be substantial. Over $100 million will accrue over a year. So, Mendoza is basically asking federal taxpayers, which include Illinoisans, to give up interest accruing in their favor on the loans. …” (Note: See also ‘Susana Mendoza: Taxpayer advocate?’)

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