Senate Democrats Hold Off On Quinn’s Borrowing Plan
SPRINGFIELD, Ill. (AP) – Illinois Senate Democrats bowed to Republican pressure and are not yet calling for a vote on Gov. Pat Quinn’s plan to borrow money to pay pensions.
Senate President John Cullerton told a committee Thursday he would continue talking to the GOP and try to resurrect the multibillion-dollar plan when the fall veto session begins in 10 days.
The Associated Press has declared Democrat Quinn has narrowly defeated Republican Sen. Bill Brady for governor based on an analysis of uncounted absentee and other ballots. Brady has not conceded.
Quinn wants to borrow $3.7 billion to pay the state’s annual obligation to retiree pension programs.
Republicans are resisting. They say the state can’t borrow more money when there’s a $13 billion deficit.
Cullerton says he will look for more budget cuts to persuade them.