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Gov. J.B. Pritzker, as part of the state’s next budget, wants to reduce the tax credit for the Invest in Kids Scholarship Tax Credit Program to 40% from its current 75%. The governor says this is to “close a corporate loop hole.” In reality, it likely will result in a poorer education for some students and surely greater cost to the state and local school districts.
Our family has contributed to the Invest in Kids Act, helping to create scholarships. For every $100 contribution, we have received a $75 state tax credit. Our contribution likely has allowed three students to attend faith-based schools that their parents otherwise could not afford. Without the scholarships, these students likely would be attending a public or charter school that provides no greater an education, and probably a lesser one, at substantial cost to the state and school district.