In addition to raising the state’s personal and corporate income taxes back near their all-time highs, senators are proposing taxing businesses on the “privilege” of doing business in Illinois, as well as taxing several services.
The Illinois Senate budget proposal merely puts off the state’s day of reckoning through more of the same: tax hikes, borrowing and spending, without the necessary reforms to put the state on a path to fiscal and economic health.
The Education Freedom Tax Credit, also known as the Federal Scholarship Tax Credit, will give Illinois students access to donor money if the state opts into the program.