State Rep. Mark Zalewski (D-Riverside)
(The Center Square) – Illinois state lawmakers from both sides of the aisle are looking to flex the legislature’s appropriation power on the influx of federal dollars headed to the state’s budget.
As part of the $1.9 trillion federal spending plan signed Thursday, the state is set to get more than $13 billion from federal taxpayers. Of that, $7.5 billion will go directly to the state.
One area already targeted for $3 billion in spending in on recent short-term borrowing the state took on from the Federal Reserve.
“We can basically give two-to-three week notice to the Federal Reserve that we have the funds on hand and we want to repay that debate,” Sturm said. “So we can call it all within two-to-three weeks and save ourselves quite a bit of interest costs.”
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