Illinois Budget Woes

By: 23 Newsroom
By: 23 Newsroom

The state of Illinois is borrowing money to speed up payment of income tax refunds.

This could help taxpayers get their money by the end of the month instead of waiting until October.

The refunds have been delayed by the state's massive budget deficit. About 783,000 taxpayers who filed just before April 15 still have not gotten their $196 million in refunds.

Gov. George Ryan and Treasurer Judy Baar Topinka have agreed to take out a $1 billion short-term loan to pay the state's overdue bills.

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