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Rauner opposes tax on millionaires

Published: Friday, March 21, 2014 1:15 a.m. CDT

CHICAGO (AP) – Republican candidate for Illinois governor Bruce Rauner’s campaign says he opposes House Speaker Michael Madigan’s proposal for a so-called “millionaires tax.”

Madigan on Thursday proposed an additional 3 percent tax on incomes over $1 million. The Chicago Democrat says it would raise $1 billion for education.

Rauner is a multimillionaire who has given millions to education.

In a statement, campaign manager Chip Englander says the proposal looks like “a first step towards empowering Mike Madigan and Gov. Pat Quinn to raise taxes on the middle class, small businesses and family farms.”

He notes Democrats raised the income tax in 2011 but still cut education funding. Rauner says Illinois needs lower taxes to be more competitive.

Quinn wouldn’t express an opinion, saying he would “take a look at the details.”

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
 

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