Frerichs: Lack of state budget costing Illinois millions in investments

Posted on October 18, 2016
Mike Frerichs
Illinois Treasurer Mike Frerichs said a lack of a state budget is costing Illinois millions in investments. (Photo courtesy www.ilga.gov)

By RFD Radio/WFMB

SPRINGFIELD – The State of Illinois is missing out on investment dollars, according to Illinois Treasurer Michael Frerichs, who said he is saddened by the lack of a full term state budget.

“We’ve brought in year to date about $47 million to the state of Illinois,” Frerichs said. “We could have brought in addition $21 million if we had a balanced budget in place for a year to allow us to make long term investments.”

Frerichs estimates the state missed out on $5.5 million more in investment income in the most recently completed quarter.

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