Rep. Jack Franks thinks he’s found a path to lead Illinois out of its budget wasteland or least get it well along the way.

 

Franks, a Democrat from Marengo, says he’s working on a bill that could generate nearly $3.9 billion without raising taxes.

 

“I think this is the path out,” Franks said. “This will be additional revenue for the state. We’ll be closing exemptions that very few get to use, and those that are taking most of these profits are … not even paying taxes in the state of Illinois.”

 

Franks is catching some disagreement on the “not raising taxes” part, though, because his plan would do away with several tax exemptions used by businesses, and it would significantly change the way Illinois measures and taxes corporate income.

 

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