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flag Illinois passes bill to shield state taxes from federal changes, saving $250M amid a $267M deficit.

flag Illinois lawmakers passed Senate Bill 1911 to insulate the state’s corporate tax system from federal changes, aiming to save $250 million and close a projected $267 million deficit for fiscal year 2026. flag The bill blocks a federal provision allowing accelerated equipment depreciation, saving $144 million, and taxes overseas profits in line with federal rules, generating $90 million. flag It also makes permanent a 2021 pass-through entity tax provision. flag Governor JB Pritzker supports the measure, saying it protects state revenue, but business groups warn it may hurt competitiveness. flag The bill awaits his signature.

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