Republican Bruce Rauner says eventually he wants to cut Illinois’ income tax rate from 5 percent to 3 percent. But he says that might not happen right away because taxes are scheduled to drop to 3.75 percent in January.
Rauner indicated that might be too much, too soon. So he recognizes lawmakers might have to temporarily raise taxes above 3.75 next year.
There’s a possibility. We need to look at all the taxes, the entire tax code. --- Republican Bruce Rauner, gubernatorial candidate
Democrats warn Rauner’s lower taxes would cause a giant budget hole - and force cuts to education. Rauner argues he’d fill that budget gap with other reforms that he thinks would pass the Democratic-controlled legislature in the first couple months of his term.
Democratic incumbent Governor Pat Quinn calls Rauner’s proposals - quote - “fantasy.”