Illinois Treasurer Michael Frerichs announced a plan to commit up to $50 million to provide loans to unpaid federal workers during the government shutdown.
According to a press release, those workers will be offered zero-interest or low-interest loans for the duration of the shutdown, which began in early October and left many without regular paychecks.
“It is truly disheartening that a D.C. dispute over the right to affordable health care has reached a point where the federal government has locked out some workers and forced others to continue working without pay,” Frerichs said in a statement. “Our no-interest loan program aims to provide much-needed relief to workers, ensuring they can feed their families, pay their mortgage, and stay current with electric and water bills.”
An estimated 153,000 federal employees live in Illinois, and many haven’t been paid since the shutdown began on October 1.
Frerichs’ office will deposit money into financial institutions to help the workers, making the loans available at below-market rates.
Frerichs criticized the Trump administration for prolonging the shutdown, and said the loans are a way for the state to help those impacted.
“Using federal employees and their families as political leverage is just plain wrong,” Frerichs said. “Despite the significant disagreements on difficult issues we must acknowledge that federal workers are public servants and should not be punished during this impasse.”
More information on the loans can be found on the treasurer’s website.
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