The federal rules provide the clearest roadmap yet for how the Federal Scholarship Tax Credit, also known as the Education Freedom Tax Credit, will operate.
The Federal Scholarship Tax Credit, also known as the Education Freedom Tax Credit, could help students access funds for special-needs education services.
The Federal Scholarship Tax Credit program, also known as the Education Freedom Tax Credit, could expand access to career and technical education for Illinois students.
Under the program, donors can receive a federal tax credit of up to $1,700. That’s a direct subtraction from your tax bill, not just a deduction from your taxable income.
Many public schools in Illinois charge for things such as textbooks and field trips. The Federal Scholarship Tax Credit program could help Illinois families with those costs.
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...