Illinois Gov. Bruce Rauner: Cut Taxes, 'wasteful Spending' To Curb Deficit

SPRINGFIELD – Gov. Bruce Rauner said Monday that he will propose rolling back last year's income tax increase in a "step-down" process over several years while also tackling a continuing deficit of billions of dollars. The Republican, who will propose a budget outline next month, revealed his plan to pare down the tax increase – a $5 billion-a-year revenue boost – in response to a report that the state spent $2 billion that lawmakers never approved. Comptroller Susana Mendoza's first-of-its-kind monthly review Monday detailed Illinois' $9 billion in overdue bills.