The plan includes capping spending to help the state pay off its $5.4 billion backlog of unpaid bills over the next five years. It also would extend the state's temporary income tax increase by a year before reducing tax rates gradually, and calls for taxing pension and social security income.
However, GOP gubernatorial candidate, State Sen. Bill Brady says the proposal won't grow the state's economy, and the continued high taxes will turn away workers.
"We've seen too many people out-migrate, move out of Illinois to (more tax-friendly states) for financial reasons," Brady says. "Having the highest personal income tax rate in the nation is wrong."
Each of the Republican candidates for governor has said they want to see the income tax increase expire.