Governor candidates march in parade, spar over taxes

CHICAGO -- A steady rain fell on the 62nd annual Columbus Day Parade in Chicago today.

But that didn't dampen the spirit of the politicians who marched in today's event looking for votes.

The governor said the difference between his 2013 tax return and opponent Bruce Rauner's is more than $60 million dollars in income.

"I released all the schedules that go with my income tax return," said Gov. Quinn. "He has not. The reason is he's hiding his loopholes."

"Obviously, I'm not doing very much in the way of loopholes because my tax rate is 27 percent," Rauner countered.

The republican venture capitalist who, late Friday afternoon, released only his return's cover pages reported making $60.8 million last year, compared to the governor's $163,000

"What (Quinn) wants to do is raise taxes on families so he's creating a diversion by attacking me for my success," Rauner said.

The Rauner campaign shifted its focus to the governor's support for extending the state's 5 percent "temporary" income tax increase beyond its expiration date on Jan. 1.

Quinn, marching up front in the Columbus Day Parade, says the state cannot fund education if the rate goes down as scheduled to 3.75 percent.

"My opponents budget calls for a million dollar tax cut for himself and savage cuts in our schools," Quinn says.

But Rauner says he fears even if Quinn loses, he'll try to maintain the 5 percent rate using the lame duck general assembly to do so.

"Wait until the new governor is seated and then we'll deal with the tax overhaul and do it right," Rauner says.

Rauner has said that if elected, he has not ruled out raising the income tax to higher than 3.75 percent.