GOVERNOR J-B PRITZKER SAYS THE STATE WILL BE BORROWING TWO BILLION DOLLARS FROM THE FEDERAL GOVERNMENT TO HELP OFFSET REVENUE LOSSES DURING THE PANDEMIC. 

WITH THE LOSS OF JOBS AND HITS TO TOURISM, HOSPITALITY AND RETAIL, THE CORONAVIRUS HAS TAKEN A BIG CHUNK OUT OF STATE TAX REVENUES, TO THE TUNE OF FIVE BILLION DOLLARS. AND WITH NO STIMULUS PACKAGE TO HELP STATES WITH COVID COSTS YET, THE GOVERNOR SAYS ILLINOIS NEEDS HELP AND WILL BORROW TWO OUT OF THE FIVE BILLION DOLLARS AVAILABLE TO THE STATE.

THE GOVERNOR SAYS HE'S RELUCTANT TO ADD TO THE STATE'S DEBT, BUT THAT ILLINOIS NEEDS THE INFUSION TO CONTINUE TO MEET THE DEMANDS OF COVID-19 ON RESIDENTS AND THE ECONOMY.

PRITZKER SAYS HE'S HOPEFUL PRESIDENT-ELECT BIDEN AND CONGRESS WILL COME TOGETHER TO PROVIDE RELIEF TO STATE AND LOCAL GOVERNMENTS AND THAT THE ECONOMY WILL RECOVER ONCE A VACCINE IS WIDELY AVAILABLE.

GOVERNOR PRITZKER SAYS THE LOSS OF TAX REVENUE DURING THE PANDEMIC HAS COST THE STATE ABOUT FIVE BILLION DOLLARS.