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Illinois To Pay Off Two Billion In Emergency Debt Early

(AP Photo/Seth Perlman File)

Illinois is set to pay off two-billion dollars in emergency borrowing debt early. State leaders announced a plan yesterday to repay in the coming months some of the money borrowed from the Municipal Liquidity Facility to keep essential operations afloat. The original payoff date for the debt was December 2023. The move will save taxpayers about 100-million dollars. State Senate President Don Harmon credits a quick rebound in Illinois’ economy for the ability to repay the debt so quickly.

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