Illinois news headlines for Aug. 31

Illinois news headlines for Aug. 31

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Gov. J.B. Pritzker has quietly signed into a law a measure that will provide a major tax break to hundreds of thousands of Illinois taxpayers—many of them relatively high-income owners of small businesses or partners in law firms, medical practices, accountancies and other professional firms.

By one rough calculation, the new law would potentially allow state taxpayers collectively to deduct an additional $4 billion a year from their federal income tax returns, saving them an estimated $80 million annually. The measure will not cost the state itself any revenue, only the federal treasury.



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