Illinois wants to use federal windfall to reduce debt, bills
Illinois wants to use federal windfall to reduce debt, bills
The state’s unpaid bills stand at about $5.74 billion.
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(Bloomberg Illinois, the U.S. state with the worst credit rating, wants to use some of its $7.5 billion of federal aid from the American Rescue Plan to chip away at unpaid bills and short-term debt racked up during the pandemic, according to Deputy Governor Dan Hynes.
The state’s unpaid bills stand at about $5.74 billion, and Illinois still has to pay back about $3 billion of the $3.2 billion it borrowed last year from the Federal Reserve’s Municipal Liquidity Facility. Governor J.B. Pritzker’s administration has “basic principles” for paying down some loans and bills but is awaiting specific federal rules and restrictions attached to the aid, Hynes said during a state senate appropriations committee hearing on Tuesday.
Riverbend unemployment down thetelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thetelegraph.com Daily Mail and Mail on Sunday newspapers.
Preliminary data also showed the unemployment rate increased over-the-year in all metro areas
“As expected, the global, national, and state impacts of the COVID-19 pandemic are still very present and the effects continue to linger on the economy and the workforce,” said Deputy Gov. Dan Hynes. “This is why the Pritzker administration is grateful the federal government acted quickly to roll out the American Rescue Plan (ARP) Act with critical extensions and program continuity.”
The metro areas which had the largest over-the-year percentage decreases in total nonfarm jobs were the Chicago-Naperville-Arlington Heights Metropolitan Division, the Elgin Metro Division, and the Kankakee MSA.
Midwest Communications
SPRINGFIELD, Ill. As expected, the number of non-farm jobs decreased over-the-year in all 14 Illinois metro areas in February, according to preliminary data released Thursday by the U.S. Bureau of Labor Statistics (BLS).
The unemployment rate also increased across all metro areas in the state compared to Feb. 2020.
“As expected, the global, national, and state impacts of the COVID-19 pandemic are still very present, and the effects continue to linger on the economy and the workforce,” said Deputy Gov. Dan Hynes.
The unemployment rate in Peoria County for Feb. 2021 was 8.2%, up from 4.6% in Feb. 2020.
Tazewell County saw an increase in its unemployment rate from 4% to 6%, while Woodford County’s increased from 3.1% to 4.8%.
Unemployment up, jobs down in Feb 2021 across Illinois 1049thewolf.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 1049thewolf.com Daily Mail and Mail on Sunday newspapers.