Illinois State Treasurer’s Office News Releases
Treasurer Frerichs Reacts to Governor’s Delayed Decision to Refinance Debt that Carried up to 12 Percent Interest
SPRINGFIELD — Illinois State Treasurer Michael Frerichs today applauded Gov. Rauner’s decision to finally agree to refinance debt that carried a staggering 12 percent interest rate. “Gov. Rauner finally made a good decision. It is frustrating to know that his delay likely cost taxpayers $62 million in interest payments,” Frerichs said. Illinois’ $15 billion bill backlog borrows money from unwilling lenders because it does not pay vendors. These unpaid bills accrue interest rates as high as 12 percent. The interest payments alone equate to $2 million each day. Gov. Rauner’s…
State Treasurers Urge More Drug Companies to Help Fight Opioid Epidemic
September 5, 2017 — Drug companies Cardinal Health and AmerisourceBergen must act to address the heroin and opioid epidemic or face potential financial consequences in their stock prices, state treasurers from Illinois, Pennsylvania, West Virginia and California said today. In letters sent to both companies, the coalition of state treasurers urged the nation’s second and third largest drug distributors to take concrete steps to alleviate the heroin and opioid epidemic. Should no action be taken, each treasurer’s office would re-evaluate its financial position in the companies and strongly encourage other…