John Knowles

Bruce Rauner says there's "nothing sinister" about venture capital firms using the Cayman Islands as a tax shelter, but says he has never used the investment vehicle for his personal benefit. 

A recent report by the Chicago Sun-Times details that a portion of his earnings have connections to the Cayman Islands -- considered a tax haven for the wealthy.

Until he stepped down to run for governor, Rauner was head of a capital investment firm, GTCR, which has several investment pools there.

Illinois will keep its flat income tax, despite an effort to move to a graduated one.

Based on the General Assembly's schedule, the Senate would have had to pass the proposal Tuesday in order to meet a constitutional deadline.

Instead, senators adjourned without a vote.

The measure's sponsor, Senator Don Harmon, D-Oak Park, sticks by the plan.

He says would allow Illinois to be nimble with tax policy.

Amanda Vinicky

  State legislators are advancing a measure that attempts to lure chemical plant jobs to Illinois, but broader plans to offer companies like ADM incentives are not ready just yet. 

Archer Daniels Midland is the highest-profile case of a company looking for a tax break from the state, in exchange for creating jobs. In ADM's case, the company is looking to move its global headquarters from Decatur to ... maybe Chicago, maybe a city in another state.

Amanda Vinicky

As gas prices rise and fall, there's one constant: however much you pay to fill your gas tank, it's taxed. Several proposals would change how.

In Illinois, gasoline is taxed twice.

"What we have in Illinois is a tax on a tax," Rep. Jack Franks (D-Marengo) says. "Which is just wrong. Because right now we get charged with the motor fuel tax. But then on top of that, they charge a sales tax."