Text Size
Login
config

Tax Credit

  • Congressional Republicans try to undo win for Illinois teachers

    teachers supplies taxLocal lawmakers stand with educators, urge Congress to do the same

    CHICAGO – A tax policy win for teachers in Illinois is now at risk of being undermined at the national level as Congressional Republicans and President Trump debate wiping out tax relief for teachers who spend their own money on classroom supplies.

    The federal debate comes just months after state lawmakers created a new tax credit in an effort to recognize the realities classroom teachers face. A trio of North Side state lawmakers is speaking out to defend teachers and criticize Republican efforts in Congress.

    “That’s Washington and the White House going in entirely the wrong direction,” Illinois Senate President John J. Cullerton said.

  • New tax credit available for DuPage teachers: Cullerton

    tc consol 051717VILLA PARK- State Senator Tom Cullerton (D-Villa Park) is urging DuPage County teachers to take advantage of a new tax credit in Illinois for public school teachers and administrators who use personal funds to purchase school supplies for their students.

    “Educating our children is a noble profession,” Cullerton said. “Our state should serve as a partner and honor the investments our educators have made in the future of Illinois. This tax credit will help lessen the burden for teachers who work endlessly to ensure our children receive the best education possible.”

    Teachers and administrators can qualify for a tax credit up to $250 for instructional materials and supplies used in the classroom.

    “DuPage County teachers are training the future leaders of Illinois,” Cullerton said. “92 percent of teachers across our nation spend their own money on classroom supplies to educate our children. It is our duty to provide support and resources to our educators for their generosity.”

    The Illinois tax credit is available in addition to the current $250 federal deduction. It is available to teachers, principals or aides in a qualified school who work at least 900 hours during a school year.

     Area educators with questions on the new tax credit can call Cullerton’s Villa Park office at (630) 903-6662.

  • Sen. Jennifer Bertino-Tarrant disappointed in Senate’s approval of Trump’s Tax Plan

    jbt 120817PLAINFIELD- State Senator Bertino-Tarrant (D-Shorewood) is disappointed in the U.S. Senate’s approval of President Trump’s changes to the federal tax code that will hurt families across the 49th State Senate District.

    The plan would benefit wealthy corporations at the expense of hardworking Illinois families. It is projected to increase the federal deficit anywhere from $1 to $1.78 trillion, according to figures released by the nonpartisan Joint Committee on Taxation.

  • Stadelman secures extension of River Edge Historic Preservation Tax Credit

    stadelman050417SPRINGFIELD – State Senator Steve Stadelman (D-Rockford) secured passage of legislation today that extends the River Edge Historic Preservation Tax Credit for four more years starting in January 2018.

    Stadelman passed a measure in December extending the tax credit, originally set to expire Jan. 1, 2017, until Jan. 1, 2018. Today’s vote allows the credit to last through January 2022.

    “The tax credit has already incentivized hundreds of millions of dollars of development in Rockford alone,” Stadelman said. “This will help put crumbling infrastructure back to use, grow the economy and increase revenue.”

    The credit has been an important economic tool for the revitalization of downtown Rockford, and is equal to 25 percent of the rehabilitation costs for a business in a historic building. 

    Previously, the tax credit was used to incentivize projects like the $12 million renovation at the Prairie Street Brewhouse, which also created 110 construction jobs. In addition to Rockford, the credit is also available in Aurora, Peoria, Elgin and East St. Louis.

    Senate Bill 1783 passed the Senate unanimously and will now move to the House for consideration.