State College Board Chief Warns Of Cuts

(Springfield, IL) -- The executive director of the state's college board is warning Illinois schools to prepare for significant cuts in state funding when Bruce Rauner becomes governor. James Applegate wrote an email to college presidents following a meeting with Rauner's budget transition team, telling the schools that funding cuts of up to 30-percent could be coming in the next 18-months. Rauner takes the reins of Illinois government in early January, just after a temporary income tax hike is set to expire, an event that would create a two-billion-dollar hole in the current budget and subtract four-billion-dollars from the budget that would kick in in July.