Article Summary

Illinois lawmakers approved a bill last week to “decouple” some state taxes on businesses from the federal government. The changes allow Illinois to collect more taxes from corporations after the federal domestic policy bill passed this summer reduced taxes for many businesses.

Business groups objected to the changes and argued they will hurt Illinois’ ability to attract businesses to expand or relocate.

The governor’s budget office is projecting Illinois will finish fiscal year 2026 with a more than $200 million deficit, but decoupling will largely close that gap.

This summary was written by the reporters and editors who worked on this story.

SPRINGFIELD — Illinois lawmakers are sending a bill to Gov. JB Pritzker that makes a pair of changes to Illinois’ tax code in r

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