Income Tax

Taxing Retirement Income

Release: April 5, 2011

Illinois does not currently tax pensions or retirement funds such as 401(k) plans. This Fact Sheet provides an estimate how much revenue could be generated by taxing some retirement income.

Issue Brief: The Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496)

Release: February 9, 2011

This Issue Brief provides an overview of the Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496), which took effect in fiscal year 2011. 

Initial Analysis of Recent Tax Increases and Spending Caps Implemented Under P.A. 96-1496

Release: January 26, 2011

This is a presentation of CTBA's analysis of The Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496), which temporarily increased the income tax rates in Illinois and implement spending caps of the General Fund budget.

Facing Reality: Illinois Must Raise Revenue to Balance Its Budget

Release: July 2, 2009

This Issue Brief explains why increased revenue is needed to address Illinois' budget deficits.

Help Struggling Families: Grow the Illinois Earned Income Tax Credit

Release: February 26, 2009

A Fact Sheet on Illinois' state Earned Income Tax Credit, and legislation from the 96th General Assembly that would have increased it.

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