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Thursday, October 17, 2024

Illinois issues $1.7 billion GO bonds; files voter integrity bill

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State Representative Michael Coffey (IL) | Representative Michael J. Coffey, Jr. (R) 95th District

State Representative Michael Coffey (IL) | Representative Michael J. Coffey, Jr. (R) 95th District

Illinois is set to issue up to $1.7 billion in general obligation bonds this month, with plans to sell $1.1 billion in refunding bonds and $600 million in new money bonds by mid-October. These "general obligation" bonds rely on the full faith and credit of the State of Illinois and its taxpayers. The bond sales will take place in New York City around October 16, 2024.

The Governor's Office of Management and Budget (GOMB), under Gov. Pritzker, has developed a fiscal plan that includes approximately $600 million in new debt. This represents an additional burden for Illinois taxpayers, as the state will not be able to refund these new debts until at least October 1, 2033. Despite having a balanced FY25 budget as required by the Constitution, Illinois continues to borrow new money while rolling over existing debts.

In other legislative news, Illinois House Minority Leader Tony McCombie has filed a bill requiring proof of citizenship during voter registration. McCombie stated that this measure is intended to enhance voter integrity and election security: “Protecting the democratic process means ensuring that every vote is legitimate and counted." State Representative Mike Coffey co-sponsored the legislation, emphasizing its importance due to concerns about unlawful voting amid an influx of undocumented migrants: “Free, fair, and secure elections is the cornerstone of a healthy democracy."

The bill, HB5887, has garnered support from the House Republican Caucus as it moves through the legislative process.

October marks Breast Cancer Awareness Month, highlighting the need for awareness about breast cancer which affects millions annually. In Illinois alone, around 12,000 women are diagnosed each year according to the Illinois Department of Public Health. Early detection remains critical for improving survival rates; mammograms are recommended for women aged 40 and older.

For further information on resources available in Illinois for breast cancer screenings and support services provided by programs like the Illinois Breast and Cervical Cancer Program (IBCCP), individuals can visit their website.

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