MUNGER: PROPOSED BUDGET WOULD CAUSE 8-9 MONTH PAYMENT DELAYS

MUNGER: PROPOSED BUDGET WOULD CAUSE 8-9 MONTH PAYMENT DELAYS
State's backlog of unpaid bills could surpass $15 billion


May 25, 2016

CHICAGO - Comptroller Leslie Geissler Munger released the following statement Wednesday in response to a budget plan being circulated in the Illinois House:

"The only thing more irresponsible than allowing our state to operate without a budget would be to pass a spending plan that digs us deeper into debt. Yet, legislation being circulated in the House does just that.

"The consequences of implementing this proposed budget would be catastrophic to those who are already suffering from the state's continued fiscal mismanagement. Today, Illinois has more than $7 billion in unpaid bills and payment delays are running more than 6 weeks behind at best. If the proposed budget is passed, our unpaid bills would surge past $15 billion, with payments delayed an unprecedented 8-9 months. That means everyone - small businesses, nonprofits, schools, hospitals, elected leaders and others - will wait even longer for what they are owed by the state.

"When you're in a hole, the best thing you can do is stop digging. For Illinois, that means members of both parties coming together in good faith to pass a budget that is truly balanced."