Tuesday, April 16, 2013

Topinka says tax dollars paying for debt

Monday is the last day to file taxes. You might wonder where your money goes. The Illinois Comptroller says, "down the drain."

Judy Baar Topinka says taxpayers see nothing in return and their money is going toward interest owed on unpaid bills; and the debt continues climbing year after year.

The state owes a lot of money to a lot of people. That's frustrating for Frances Chaplain. She works at UIS.
"There's no light at the end of the tunnel for it to stop, because every time you see something in the paper, it's just getting deeper and deeper every time," said Chaplain.

The state is working to pay down all that debt and is using your tax dollars to do it. So far this year, $47-million has been spent on interest alone; last year, about $86-million.

"The $86-million could go to the pension fund. It could go to human services. It could go toward building highways. Where does it go? To pay debt," said Ron McNeil, dean of the UIS College of Business and Management.

The story aired on WCIA-TV on April 15, 2013.

Watch the story online