Illinois House considers authorizing bonds

The Financial Authority Act, a bill authorizing the state to finance road and infrastructure repair with bonds, has been referred to the Rules Committee in the State House of Representatives today.

The Financial Authority Act, a bill authorizing the state to finance road and infrastructure repair with bonds, has been referred to the Rules Committee in the State House of Representatives today. The bill, proposed by Michael Frerichs, D-52, passed the State Senate Thursday.

“This initiative is designed to stabilize our fragile economic situation,” Frerichs said in a press release. The senator called the bill a “jobs and economic revitalization package” which would generate over $8 billion.