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Governor Blagojevich Announces Plan to Manage Fiscal Year 2009 Budget Deficit
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CHICAGO – Citing the impact of the national economic crisis on Illinois’ revenues, Governor Rod R. Blagojevich today announced a four-part plan to manage the State’s $2 billion fiscal year 2009 budget deficit. The Governor’s proposed plan includes passage of the Emergency Budget Act, which would give the Governor and other constitutional officers added authority to help them make additional cuts, a request to Congress for increased federal stimulus aid, and further administrative reductions in the state agencies. In addition to these budget solutions, the Governor is also proposing short-term borrowing which will help manage the State’s cash flow and pay providers in a more timely matter.
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