Report to present magnitude of Ill. fiscal woes
SPRINGFIELD, Ill. -- An author of a report due Wednesday that outlines the fiscal crisis In Illinois says the account is designed to emphasize the "magnitude" of the problem.
University of Illinois economist Richard Dye says solutions to problems like the state's backlog of bills and the Medicaid squeeze will be mentioned but not recommended. They include broadening the sales tax base and having cash set aside for emergencies.
The report is a spin-off from one in July led by former Federal Reserve Chairman Paul Volcker and former New York Lt. Gov. Richard Ravitch. Illinois was among six states examined.
Gov. Pat Quinn spokesman Abdon Pallasch says the July report highlighted problems the Illinois governor has fixed or proposed solutions for.