The first report from the newly-passed debt transparency act is in and it shows that Illinois has paid over $1 billion in late penalty payments.

Monday’s report also shows that the state has roughly $9 billion in overdue bills, with some of them carrying late-payment charges of up to 12 percent annually.

The report also put into writing something that Comptroller Susana Mendoza has claimed for months – that Governor Bruce Rauner has been spending without the approval of the general assembly. Roughly $2.3 billion has been spent without ever getting the legislature’s okay.

In response to the report being made public, Governor Rauner says he will propose reversing last year’s income tax increase through a step down process over several years. Rauner also proposed cutting wasteful government spending. Though he offered no specifics on just how this would help make up the 2 billion dollar deficit.