CHICAGO -- Facing opposition to a $1.5 billion bond restructuring and Medicaid reform plan, Gov. Jim Edgar of Illinois this week revamped his proposed state budget for fiscal 1995.

Edgar's new plan replaces the controversial debt restructuring plan with a smaller debt refinancing and taps about $248 million of unanticipated revenue increases in fiscal 1994 and 1995 to help pay off a backlog of Medicaid bills.

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