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Title:The Feds giveth and the Feds taketh away
Author(s):Luby, Martin J.
Subject(s):federal
budget
Illinois
policy
subsidies
governments
sequester
Abstract:Governments in Illinois have been forced to spend tens of millions of dollars due to the loss of subsidies in a federal bond program, and could lose hundreds of millions more if the federal budget sequester remains in place, according to an analysis from the University of Illinois Institute of Government and Public Affairs. The federal subsidies were part of the Build America Bond (BAB) program and helped governments seeking access to financing for capital projects offset their interest costs. But when the federal budget sequester was enacted in 2013, four years into the program, those subsidies were reduced, forcing governments to cover the difference themselves. “This is just another financial challenge that Illinois governments have had to manage over the past few years and will have to manage in the years going forward,” Luby said. “The real concern is this is going to cost much more in the future if the sequester continues.”
Issue Date:2017-02-23
Publisher:Institute of Government & Public Affairs
Genre:Article
Type:Text
URI:http://hdl.handle.net/2142/110223
Date Available in IDEALS:2021-08-02


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