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Gov. J.B. Pritzker for a second year wanted to withhold the $350 million education spending increase built into the 2017 school funding formula, but changed his mind May 6 and announced he supports keeping the promise to the state’s schoolchildren.
Pritzker’s reversal came after state lawmakers were gearing up to fight for the money, which is targeted at closing funding gaps between wealthier and poorer schools.
“I don’t want to go down the path of continuing to short our schools again,” state Rep. Stephanie Kifowit, D-Aurora, said April 30.
Illinois failed to provide the extra money during the current budget year and Pritzker was poised to keep it again July 1, the start of the fiscal year 2022 budget lawmakers are currently crafting. His change of heart also came after a report showed Illinois revenues are up.
(Editor s Note: This article was published first at Illinois Policy Institute).
Many of Illinois’ public schools have been shuttered for over a year. Now, Gov. J.B. Pritzker is threatening to cut off one of the few ways low-income and working-class kids and families gain access to educational options.
The governor proposed in his fiscal year 2022 budget that the state should drastically reduce the incentive to donate to Illinois’ tax credit scholarship program. It offers low-income families scholarship money so their kids can attend the schools that best suits their needs.
Here’s how it works. The Invest in Kids Scholarship Tax Credit Program, which passed in 2017, allows individuals and corporations to donate money to the scholarship program and receive a tax credit of 75 cents for every $1 donated, up to a maximum credit of $1 million. Scholarship money is awarded to families whose income does not exceed 300% of the federal poverty level: a family of four earning $73,800 o
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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.
SARAH MANSUR
Capitol News Illinois
SPRINGFIELD â Gov. J.B. Pritzkerâs proposed $41.6 billion spending plan for the coming fiscal year relies, in part, on ending nine tax incentives for businesses in an effort to preserve an estimated $932 million in state revenues.
However, Pritzkerâs proposal to end what he called âunaffordable corporate loopholesâ would require action by the Illinois General Assembly.
âThis will be one of the most challenging budgets this government has ever had to craft, but I know there are willing partners in the General Assembly,â Pritzker said during his prerecorded budget address on Wednesday, adding that General Assembly members incorporated their ideas, âlike cutting corporate loopholes that force the middle class to pay more.â