Page 8 - கவர்னர் அலுவலகம் ஆஃப் மேலாண்மை News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Gov. JB Pritzker and other Democratic leaders announced Thursday that they have agreed to a plan to repay the money Illinois borrowed from the Federal Reserve during the COVID-19 pandemic before the end of the next fiscal year. Illinois borrowed $3.2 billion from the Fed through a program that Congress established under the Coronavirus Aid, Relief and Economic Security, or CARES Act to help states that saw dramatic declines in revenue during the peak of the pandemic. Of that, roughly $2 billion remains outstanding. That money was to be repaid in three installments by December 2023. But in a news release, Pritzker said the state’s recent economic performance and stronger-than-expected revenue growth will allow it to pay off the loan early, saving the state about $100 million in interest charges.

United statesOak parkGreg harrisEmanuel chris welchSusana mendozaPeter hancockDon harmonTreasury departmentGovernor office of managementCivic federationFederal reserveCapitol newsCoronavirus aidEconomic securityHouse democratsGeneral assembly