PEORIA, Ill. – Republican leaders in the Illinois Senate are continuing to say the way Democrats are spending federal COVID-19-related money to pay down various debts, including in the state’s Unemployment Insurance Trust Fund, is only going to lead to a worse financial situation later on.
State Senator Win Stoller (R-Germantown Hills) says not enough of the American Recovery Plan money given to the state was used to pay down the debt in the UI Trust Fund.
“The Governor has said that there’s $3.5 billion of (American Recovery Plan Act) in total that has not been spent or appropriated — earmarked for other uses,” said Stoller. “Instead of using the entire $3.5, he only used $2.7. So, I would suggest right away he use the $3.5.”
Stoller says instead of paying down all the debt in the trust fund, the state is only paying down part of it, which will lead to more interest and more debt down the road.
“Now we’re faced with billions of dollars in debt, and no plan to solve it, other than impending benefit cuts, tax increases, and more debt. We had all the money we needed to solve this problem, and we didn’t do it,” said Stoller.
Stoller says that and the so-called “windfall” of other revenue the state got in the last year should be put to better use — and not for infrastructure and other pet projects.
Stoller held a press conference this afternoon at Widmer Interiors in Peoria, where he is the CEO. He was joined by State Senator Sue Rezin (R-Morris), Senate Deputy Minority Leader.
