Ill. House committee agrees on $100 million for Obama presidential library

An Illinois House committee agreed to back a potential presidential library in the state with $100 million in state funds.

The $100 million endorsement will now be put towards the entire Illinois House, reports the Chicago Tribune. The money would go towards a Chicago presidential library for Barack Obama.

House Speaker Michael Madigan said that though the state might not be all that financially healthy, it doesn't exactly hurt Illinois either. "The state of Illinois will spend over $1 billion in construction this year alone, so $100 million is not out of line."

Madigan also insisted that despite presidential libraries being usually back by private donations, there is precedent for public money going towards a library. The speaker said that Abraham Lincoln's presidential library in Springfield got "close to $100 million in state money."

According to The Associated Press, Chicago Mayor Rahm Emanuel backed the plan as well, saying that returns from the library will easily exceed what the state contributes.

Still, it hasn't been set in stone where the Obama presidential library will go as Hawaii and New York also are angling to get the library built there.