Republican Bruce Rauner is speaking out against Governor Quinn’s call to keep the state’s personal income tax rate at 5 percent. The tax rate is scheduled to drop next year.
Quinn wants to keep the income tax where it is - in exchange for some property tax credits for home owners. Rauner says that’ll hurt the state’s economy.
"This tax hike will devastate the growth opportunities in Illinois and will only make our long-run budget problems all the worse," says Rauner.
Rauner says it’s fear mongering to suggest big cuts will come to education if the income tax isn’t reduced.
"He’s saying, ‘Oh we’ve got to cut education funding.’ We do not. If education funding is a top priority as it should be, we do not have to cut education funding. He’s been using it as a political ping pong ball," says Rauner.
Rauner says he’ll soon introduce his own proposal for revamping Illinois’ tax code.