Illinois taxpayers will pony up at least $130 million extra in interest payments for a bond sale this week due to lowered credit ratings because lawmakers have failed to solve the state's $97 billion pension crisis.
Unable to overcome a stalemate on the state's $97 billion pension crisis, Illinois Gov. Pat Quinn and legislative leaders have agreed to form a bipartisan committee to hammer out a compromise and to reconvene the Legislature for another session in July.