$6 billion debt will be issued for unpaid bills, according to Senate Bill 2218.
Unpaid bills are now about $14 million.
To entice lenders, part of the individual income tax collections will be deposited in a fund to pay back the bonds.
Also, proponents are relying on passage of Senate Bill 9 by the Illinois House as the main tax increase vehicle.
It includes a 32% increase in the income tax rate and many new service taxes.
One legislator observed, “There will be a lot of revenue raised to fund more spending, not pay down debt.”