Illinois announces plan for infrastructure projects

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The State of Illinois has presented its plans for infrastructure, utilizing up to US$41.5 billion of investment for roads, bridges, schools and other facilities. 

The plans will be partly funded with US$17.8 billion of bonds even as Illinois pays the biggest yield penalty among states to sell debt. Other funding sources in the draft plan include about US$7 billion in cash and US$10 billion in federal money.

The State would also raise about US$1.78 billion annually for the plan by increasing state taxes on motor fuel, nonresidential real estate transfers, and liquor, and hiking vehicle registration fees. The plan also calls for taxing ride shares, garage parking, and cable, satellite, and streaming services for the first time by the state.

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