Mendoza urges Rauner to sell off Illinois debt as taxpayers feel - WSIL-TV 3 Southern Illinois

Mendoza urges Rauner to sell off Illinois debt as taxpayers feel the effects

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WSIL -- Monday, State Comptroller Susana Mendoza urged Governor Bruce Rauner to quickly sell up to $6 billion of bonds to help pay off overdue bills.

Mendoza said taxpayers shell out $2 million a day in interest penalties. 

The General Assembly authorized the governor to sell General Obligation bonds that would allow the state to lower the interest rate it pays on its debt. 

Political Analyst Linda Baker, of the Paul Simon Public Policy Institute in Carbondale, said many thought the recent tax increase would be going to pay off that debt, but actually it's going to pay those late fees.

"All taxpayers, no matter if you're in Carbondale, Cairo or Chicago, need to be concerned about the fact that the interest payments are growing," she said.

Mendoza released a video to help familiarize taxpayers with the importance of refinancing the state's debt through a bond offering, calling it "common sense."

Late last month, a Rauner spokesperson said the governor's office was "evaluating our options regarding bond issuance."

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