Illinois Minimum Wage Tax Credit
Businesses are struggling between a highly competitive labor market, the increased burden of minimum wage, rising costs and economic recovery from the pandemic. The Illinois Chambers All In for Economic Recovery’s bill to restructure the Minimum Wage Tax Credit’s incremental phase-out, HB 5320, will restore the Minimum Wage Small Business Tax Credit to its original 25 percent for the next three calendar years and allow businesses to fully capture the original intent of the credit offsetting the cost of the increased minimum wage.
A subject matter hearing has been scheduled and we urge legislators to forward to a committee vote soon.Urge your Representative to support this bill with just one click by using our Advocacy Action Center.
“Restructuring the minimum wage credits is important. Business owners are struggling right now to pay the few employees they have, but they understand the importance of increasing the minimum wage. To help in their continued recovery, it would be best for businesses to receive a tax credit in the amount of 25% over the next three years, then a final 5% in 2025,” said Rhonda Ludwig, the Chamber’s Director, Government Affairs.
Urge IDOT And IAIS To Finalize Agreement to Begin Construction on QC Passenger Rail Project
U.S. Sens. Dick Durbin and Tammy Duckworth, and U.S. Rep. Cheri Bustos sent a letter to the Illinois Department of Transportation about the lack of progress on the Chicago-to-Moline passenger rail connection - and a final agreement between the Illinois Department of Transportation (IDOT) and Iowa Interstate Railroad (IAIS) on the infrastructure upgrades needed to begin rail passenger service on the proposed route between Chicago and the Quad Cities. As a refresher, IDOT received $177 million in federal funds to initiate passenger service between Chicago and the Quad Cities in 2010. Passenger rail service between Chicago and the Quad Cities was originally promised to begin in 2014.
“We are thrilled to see our legislators write this letter to urge IDOT and IAIS to come to an agreement. Time is wasting. We are looking forward to hearing from both entities very soon regarding their progress,” Ludwig said.
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