Illinois Economic Policy Institute

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Trump cuts Illinois economy

Capitol News Illinois

Report: Trump cuts could shrink Illinois economy by $10B

SPRINGFIELD (Capitol News Illinois) -- Recent cuts by President Donald Trump’s administration could reduce the size of Illinois’ economy by nearly $10 billion each year, according to a new report released Monday by the Illinois Economic Policy Institute. The report offers a detailed look at the effects of cuts enacted by Trump through executive order or legislation, directives by federal agency leaders, or through Elon Musk’s so-called “Department of Government Efficiency.” It also sheds light on how many jobs will […]

todayDecember 2, 2025 44

Illinois child tax credit

Capitol News Illinois

Illinois child tax credit: who gets it, how much is it?

SPRINGFIELD (Capitol News Illinois) -- In the final hours of their spring legislative session, Illinois lawmakers approved a tax credit of up to about $300 for families with young children.  The credit is available to Illinoisans with children under age 12 who qualify for the federal Earned Income Tax Credit, or EITC. Although it has exceptions, that credit is generally available to married couples earning up to about $60,000 and single people earning up to about $50,000, depending on the […]

todayJune 17, 2024 202

Business & Lifestyle

Illinois businesses prepare another minimum wage increase

SPRINGFIELD (The Center Square) – With the new year, Illinois will see another minimum wage hike on Jan. 1. The state’s minimum wage goes up to $11 for hourly workers. Tip-earning workers will also earn $6.60 hourly, with youth workers getting a bump up to $8.50 hourly. Gov. J.B. Pritzker signed legislation into law in 2019 that provides a path to a $15 minimum wage by 2025. Administration officials state the extra money will pump up the economy after workers […]

todayDecember 30, 2020 99

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