By Kenneth Kriz and Craig Johnson, includes “State and local governments in Illinois issued just over $27.3 billion in debt during the period of analysis. … If those issuers face a relative penalty of 53 basis points over what other states had to pay during that period, the cost to Illinois issuers becomes $144.9 million per year over the life of the bonds issued during that time. This penalty is passed on to taxpayers in the form of higher taxes, fees, and charges.” (Note: What would the penalty be absent massive federal aid?)