Taxes
Released February 2, 2021
Part of the federal economic stimulus created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, involved increasing the tax relief businesses could claim under the existing net operating loss and excess business loss tax breaks. Among other things, the Cares Act made these tax cuts retroactive, meaning businesses can claim losses and reduce their tax liability for years in which the pandemic had no impact on their profitability. CTBA provides reasoning for supporting decoupling from Federal CARES Act Tax Breaks.
Released October 4, 2006
An introduction to public transit in Illinois: what it is, how it’s funded, who the major stakeholders are and how to get involved. Includes a glossary of transit terminology.
Released October 20, 2006
A presentation on the Illinois economy, and how it relates to education funding.
Released July 16, 2007
An overview and charts of the potential revenue options for Illinois, and what that revenue could be used for.
Released July 2, 2009
This Issue Brief explains why increased revenue is needed to address Illinois' budget deficits.
Released October 29, 2010
This Report is a thorough analysis of the Illinois’s long-term spending patterns, budget problems and tax policy.
Released May 23, 2012
Presentation on why Illinois needs tax reform, and the case for a graduated income tax.
Released January 29, 2008
The Citizen's Guide to the Illinois Budget and Tax System reviews the technical elements of the Illinois budget and tax system.
Released March 11, 2009
How the state elects to resolve its record deficit will have a meaningful impact on the size and duration of the recession in the state's economy. Given this scenario, the state's best hope of growing its economy and countering the recession is to close its deficit by raising taxes progressively and maintaining or expanding spending on services.