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Illinois Paying Down Another Debt

Illinois is paying down another debt.

 

The state took a loan from the Federal Government during the pandemic to keep its unemployment trust fund afloat. The state made a $450 million payment today on the outstanding $1.8 billion loan. Governor JB Pritzker says with historically low unemployment the trust fund has a large enough balance to further reduce the outstanding loan.

 

 

Illinois originally took out a $4.5 billion loan to stabilize the trust fund at the start of the pandemic.

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