Governor Rauner on CTU’s La Salle St. Tax idea: Absolutely not

The Chicago Teachers Union has repeatedly called for a financial transaction tax, commonly known as the La Salle St. tax as one of their demands to fund the cash-strapped Chicago Public School district.

According to the union, either Chicago or the state would tax both buyers and sellers of trades on the Chicago Mercantile Exchange and the Chicago Board of Options Exchange. They claim it would raise billions of dollars in taxes.

Chicago Democrat Mary Flowers told the House floor last month that the state would solve all of its problems with her transactions tax bill.

We asked Governor Rauner Monday in suburban Lincolnshire about what chance a La Salle St. tax has of entering into budget negotiations and what it’s effect would be.