SPRINGFIELD, Ill. (AP) -- Gov.-elect Bruce Rauner says Illinois’ financial condition is “stunningly bad” and it will require “strong action” to fix it. But he’s not saying what that action will be.
The Winnetka Republican spoke Thursday at the Capitol.
He says Auditor General William Holland is conducting a “turnover audit” of the state’s financials. Rauner says that’s critical to understanding the depths of Illinois’ fiscal problems.
Rauner will take over for Democratic Gov. Pat Quinn on Jan. 12. He says he’ll be prepared to present a budget address in February.
But Rauner didn’t discuss how he’ll make up for billions of dollars less in revenue when Illinois’ income tax rate rolls back Jan. 1.
He says he wants to overhaul the tax code and he’ll discuss it “at the right time.”