The Illinois Supreme Court on Friday unanimously ruled the state’s pension law, SB 1, unconstitutional. Summary of the Illinois Supreme Court decision.
If retiree health benefits remain unchanged, Illinois taxpayers will foot the bill for an estimated $1 billion through 2035 in Cadillac taxes on retiree health-insurance plans alone.
While the state waits for the Supreme Court’s SB 1 ruling, Gov. Bruce Rauner and other lawmakers are working up a pitch to amend the state constitution.
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.