(Adds reaction from house speaker, budget and speech details) CHICAGO, Feb 15 (Reuters) – Illinois Governor Bruce Rauner said on Wednesday he will entertain tax measures to address the state’s deep financial woes but continued to tie his possible support to the legislature agreeing to nonbudgetary demands that he thinks will spur economic growth. In his third budget address to the legislature, the Republican governor said a bipartisan Senate bill package aimed at breaking the state’s nearly 20-month budget impasse could win his support. “First and foremost: the final result must be a good deal for taxpayers and job creators: a grand bargain that truly balances the budget once and for all, and really moves the needle when it comes to job creation,” Rauner said in a speech punctuated, at times, with Democratic snickering and laughter. He tied an income tax hike proposed by Senate leaders to a permanent instead of a two-year local property tax freeze. He also was open to broadening Illinois’ sales tax base but rejected taxing food and medicine. Illinois is limping through a record-setting second consecutive fiscal year without a complete budget due to an ongoing feud between Rauner and Democrats who control the legislature. A six-month fiscal 2017 budget expired on Dec. 31. Rauner’s fiscal 2018 general fund budget calls for $37.3 billion in spending but projects $32.7 billion in revenue, leaving $4.57 billion in unspecified cuts and revenue increases to be negotiated with the legislature. The budget also depends on changes to state…more detail
