Illinois state tax payments fall short of state debt

Unfortunately, taxpayers in Illinois are not even making a small dent in the amount of money that the state owes to vendors. The payments owed to the state by taxpayers will first go to interest owed on the nearly $6 billion owed by the state. During the past 10 years, Illinois taxpayers have paid over $300 million in interest on overdue bills owed by the state. Increasing the date that interest accrues on unpaid bills by 30 days has helped but is not enough to stop the state from going further into debt.

For more read, “Deadbeat Illinois: State income tax payments just ‘flushed away’.”

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