Turnaround Veteran Bruce Rauner's Task as Governor: Tackling Illinois Finances

The Republican takes over Monday as leader of the state with the worst-funded pension system and the lowest credit rating among its peers.

Republican gubernatorial candidate Bruce Rauner declares victory during his election night gathering while incumbent Democratic Gov. Pat Quinn is yet to concede on November 4, 2014 in Chicago, Illinois.
Photo by John Gress/Getty Images

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By Tim Jones and Elizabeth Campbell

January 12, 2015 at 5:01 AM UTC

Updated on

January 12, 2015 at 7:26 PM UTC

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Bruce Rauner is a turnaround specialist who built his reputation taking over struggling companies and making them profitable. Now he’s tasked with fixing the finances of Illinois.

A Republican and first-time public officeholder, Rauner takes over today as governor of the state with the worst-funded pension system and the lowest credit rating among its peers, and more financial stress lies ahead. Some government services, such as the corrections department, may run out of cash as soon as next month because lawmakers passed a 2015 budget containing a $2 billion revenue hole.