SPRINGFIELD (AP) — Gov. Pat Quinn has set a July 9 deadline for a bipartisan committee to come up with a solution for Illinois' pension crisis.
The Chicago Democrat says lawmakers must move quickly to address the $97 billion unfunded pension liability. He says lawmakers' lack of action is hurting the state's economy.
The Legislature voted Wednesday to form the conference committee in an attempt to end a stalemate between the House and Senate.
Lawmakers expressed skepticism that a compromise can be reached by Quinn's deadline. They say it takes time to crunch the numbers on various proposals.
But Quinn says it's sufficient time and there should be "no excuses."
It's not the first deadline Quinn has set for lawmakers to address the problem.
Legislators have missed every prior deadline he's set.