Legislature to tackle vetoes transit issue
Springfield AP reports lawmakers convene to review Gov Thompson's vetoes and face Chicago area's transit financing dispute. Thompson outlines a three point plan to reform the six county Regional Transportation Authority including shifting board control to suburbs and revising subsidy formulas for CTA and regional transit. Lawmakers consider overriding vetoes and ratifying $286 million in general spending reductions amid fall budget stakes.
MENTIONED IN THIS ARTICLE
Springfield
James R. Thompson
Chicago
Thompson
General Assembly
RTA
Chicago Transit Authority
Cook
DuPage
Kane, Lake
McHenry
Will Counties
CTA
Assembly
Illinois top credit rating eyed for 12 percent loans
Illinois, one of ten states with top credit ratings, plans to sell 100 million in tax exempt notes next month to finance state building, highway, and school construction. Bids open Oct 20 in Chicago. officials hope buyers accept below 12 percent interest, aided by a triple A rating.
MENTIONED IN THIS ARTICLE
Springfield
Illinois
Chicago
John Briggs
James R. Thompson
Briggs
Richard Kolhauser
Morgan Guaranty
New York
Moody’s Inc
Standard & Poor's
State budget faces second deficit year
Illinois faces a second straight deficit as a sluggish economy swells welfare costs. Budget official Richard Kolhauser said the $14.9 billion plan has been trimmed to $14 billion, ending the year with about $170 million in the bank. Chicago bus drivers and 103 non-operations staff at CTA will be cut to save $6.4 million annually, with unions urged to renegotiate benefits. suburban retailers drop July sales tax collection suit after out of court settlement.
MENTIONED IN THIS ARTICLE
Springfield
Illinois
Richard Kolhauser
James R. Thompson
Thompson
Kolhauser
Chicago
Chicago Transit Authority
CTA
Chicago Tribune
Niles
State and federal probe hits welfare fraud case
Indictments returned against 18 persons for bilking food stamps and welfare programs, some ongoing since 1973. Four retail store owners, three clerks, and a tavern owner face charges for buying stamps for cash and reselling at a profit. Ten women on welfare allegedly used phony names to claim $551,780 illegally from AFDC, Medicaid and food stamps. State and federal investigators cooperated in the computer aided probe.
MENTIONED IN THIS ARTICLE
Chicago
Cook County
Also Mentioned on This Page
Jane Byrne
Diamond Trio
American Express
Dreifus
Diamond
Carbondale
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