Illinois lawmakers expressed skepticism about an audacious plan to bridge a $130 billion pension shortfall by floating $107 billion in bonds and letting the state’s retirement systems invest the proceeds.
Reaction from both sides of the aisle during a state House committee hearing Jan. 30 suggests proponents of the proposal have to overcome major challenges to get it through the state Legislature.
Rep. Scott Drury (D) focused on the bond market’s potential reaction, noting that the proposal would be the largest state debt sale in the history of the municipal market. Drury called on proponents to demonstrate that the idea ...
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