https://www.bnnbloomberg.ca/illinois-lawmakers-pass-40-billion-budget-counting-on-fed-help-1.1440572
(Bloomberg) – Illinois lawmakers early Sunday approved a budget of about $40 billion for the year starting in July that relies on federal loans to close the revenue shortfall exacerbated by the coronavirus pandemic.
The budget for fiscal 2021 maintains most funding levels from a year earlier and boosts pension payments and spending on health and human services. It expects to close the projected deficit of as much as $7.4 billion partly by borrowing as much as $5 billion from the Federal Reserve’s Municipal Liquidity Facility.
Democratic Governor J.B. Pritzker has also said he’s seeking more than $7 billion in federal aid to make up for lost revenue amid the virus outbreak. Illinois has the third highest number of Covid-19 cases in the U.S.
“These are unprecedented times,” Senator Heather Steans, a Democrat, said late Saturday before the vote. “We have many unknowns right now. This budget is in fact, then, putting in place a preservation mode so that we don’t drastically cut resources and services and programs at a time that we desperately need to provide those services to folks around the state.