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Southern Illinoisan in Carbondale, Illinois

03 Apr 1981

Page 7

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Southern Illinoisan April 3, 1981 Page 7 old newspaper archives

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Newspaper

Southern Illinoisan

Location

Carbondale, Illinois, United States of America

Date

Apr 03, 1981

Page

7

Transit plan shelved in Illinois House defeat

Illinois House defeated Gov. Thompson’s transportation rescue package after the first of seven bills fell 21 votes short. The plan sought a 5 percent oil tax to fund Chicago area transit, abolish the RTA, and create a Transportation Finance Authority with a $200 million loan to avert a shutdown. Democrats and Republicans sparred over amendments and strategy as sessions set aside until April 21.

MENTIONED IN THIS ARTICLE

Springfield James R. Thompson Illinois House Thompson House George Ryan Kankakee Richard T. Mulcahey D-Durand Ryan Michael Madigan Chicago Jane Byrne Madigan GOP RTA Cook County TFA Chicago Transit Authority
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Illinois House committee backs ending state interest caps

Illinois lawmakers move to lift mandatory ceilings on consumer loan rates across banks credit unions auto finance firms and retailers with revolving accounts. The 13 2 vote in the House Financial Institutions Committee endorses a measure to remove usury limits allowing higher rates tied to inflation and negotiated terms. Opposition led by Rep Aaron Jaffe calls it horrendous and warns of steep borrowing costs while supporters argue lenders need relief to offset rising costs. The bill would permit stores to charge up to 18 percent annual interest on revolving accounts and allow rate changes with 30 days notice. it also would let banks savings and loan associations and credit unions set their own rates.

MENTIONED IN THIS ARTICLE

Springfield Illinois House House Financial Institutions Committee Senate Aaron Jaffe D-Skokie Jaffe Rial Savings and Loan Edward McBroom Kankakee William Redmond D-Bensenville
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Also Mentioned on This Page

Philip J. Rock Oak Park Rock Downstate Jim McPike Dalton Committeek Robert Bruce Meis Peggy Hampton Tamaroa Jack Davis Murphysboro Perma-Seal Inc Walnut- Murphysboro, NL United States Steel Terre Haute Danville Mattoon Marion Carbondale
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