For Immediate Release
Friday, August 27, 2021
Contact:
Darbi Durham
217.827.9736
ddurham@ilchamber.org
Illinois Chamber applauds Governor JB Pritzker for signing SB 2531, SALT Cap Workaround Legislation
"The Illinois Chamber applauds Governor JB Pritzker for his support by signing SB 2531, SALT Cap Workaround. The Chamber also applauds State Senator Win Stoller and Representative Anthony DeLuca for sponsoring this legislation. Senator Stoller and Rep. DeLuca have demonstrated to us all that Springfield can work in a bipartisan manner to help Illinois taxpayers," said Maisch. "These members carried this bill with unanimous support in both the House and the Senate. This bill is an Illinois Chamber Tax Institute initiative that will lower the tax burden for many Illinois businesses."
SB 2531 is a workaround to the federal $10,000 cap on state and local tax deductions. This legislation is revenue neutral and will help thousands of Illinois taxpayers. While the Chamber believes the 2017 federal tax reform was a net positive for Illinois and the nation, the federal $10,000 SALT deduction cap was one provision of the legislation worked to the disadvantage of Illinois taxpayers.
We are very happy with the Governor and the bipartisan consensus in both chambers.
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