{"id":581043,"date":"2010-05-27T10:18:36","date_gmt":"2010-05-27T14:18:36","guid":{"rendered":"http:\/\/illinoiseducationassociation.org\/?p=8144"},"modified":"2010-05-27T10:18:36","modified_gmt":"2010-05-27T14:18:36","slug":"senate-must-pass-pension-borrowing-plan","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/581043","title":{"rendered":"Senate must pass pension borrowing plan"},"content":{"rendered":"<p><strong> <\/strong><\/p>\n<p style=\"text-align: left;\"><a href=\"http:\/\/illinoiseducationassociation.org\/media\/Pension-for-website1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-4275\" title=\"Pension for website\" src=\"http:\/\/illinoiseducationassociation.org\/media\/Pension-for-website1-199x300.jpg\" alt=\"\" width=\"199\" height=\"300\" \/><\/a>The Illinois House this week voted to  borrow  nearly $4 billion needed for the state to make its  scheduled payment to the pension systems but the Senate needs to act on the House bill to make sure the systems get their money.<\/p>\n<p style=\"text-align: left;\"><strong>Borrowing was the best option since  the likely alternative would be for the state to do what has been done in the past:\u00a0Take a \u201cpension holiday\u201d and forgo the payment until next  year, further weakening the pension\u00a0systems and incurring billions of dollars in  additional debt.<\/strong><\/p>\n<p>The Democrats in the House needed help from Republicans to pass the pension borrowing plan and the same is true in the senate.<\/p>\n<p>Doug Finke at Gatehouse <strong><a href=\"http:\/\/www.carmitimes.com\/homepage\/x636941925\/State-budget-still-not-foregone-conclusion\">reports<\/a> <\/strong><\/p>\n<p style=\"padding-left: 30px;\"><em>\u201cI  have been told there are no votes in the Republican caucus for  borrowing,\u201d said Sen. John Sullivan, D-Rushville, one of the Democrats\u2019  budget negotiators.<\/em><\/p>\n<p style=\"padding-left: 30px;\"><em>The  Senate did not return to Springfield until late Wednesday afternoon and  did not take up any budget issues. Both parties planned to hold private  meetings with members Wednesday to talk over positions on the remaining  budget issues.<\/em><\/p>\n<p style=\"padding-left: 30px;\"><em>Sen.  Larry Bomke, R-Springfield, said Republicans have not yet taken a  position on the pension borrowing bill.<\/em><\/p>\n<p style=\"padding-left: 30px;\"><em>\u201cThe  governor called me (Tuesday). I said I will consider it. Right now, I  haven\u2019t ruled it out or decided to support it,\u201d Bomke said.<\/em><\/p>\n<p>It\u2019s worth noting that Bomke  represents Springfield and thousands of state workers who want their  pensions funded.<\/p>\n<p>Keep checking the IEA Website for updates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Illinois House this week voted to borrow nearly $4 billion needed for the state to make its scheduled payment to the pension systems but the Senate needs to act on the House bill to make sure the systems get their money. Borrowing was the best option since the likely alternative would be for the [&hellip;]<\/p>\n","protected":false},"author":4160,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-581043","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/581043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4160"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=581043"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/581043\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=581043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=581043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=581043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}