The Springfield Chamber of Commerce last week floated a plan to issue $6.1 billion of four-year bonds to pay down Illinois’ backlog of bills.
The chamber said the borrowing is needed to help stabilize state finances. Gov. Pat Quinn, who originally pressed for an $8.75 billion plan, praised the group’s proposal.
“The Quinn administration applauds the Greater Springfield Chamber of Commerce for its support of a plan to immediately pay past due bills by restructuring these debts at attractive interest rates,” a statement said.