Illinois Quick Hits: Bills filed to create small business accounts | Illinois
(The Center Square) – Democratic state Sen. Doris Turner, D-Springfield, and Republican state Rep Amy Elik, R-Alton, have filed legislation to create small business asset purchase accounts. HB 4874 and SB 3614 allow small businesses to receive income tax deductions of 50% in the tax year they contribute funds to the account or withdraw funds. […]
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Group: Raising minimum wage could cause drastic inflation | Illinois
(The Center Square) – Illinois lawmakers have proposed raising the state’s minimum wage to $27 per hour in 2032, but an employment policy researcher says the move could trigger drastic inflation. House Bill 5367 and Senate Bill 3821 provide for incremental increases, starting on July 1st of this year. Citing research by economists and Bureau […]