Illinois Quick Hits: NFIB says biz deduction will bring jobs, benefit to Illinois

Illinois Quick Hits: NFIB says biz deduction will bring jobs, benefit to Illinois

April 15, 2026/
Spread the love

By Jim Talamonti | The Center Square
The Center Square

(The Center Square) – The National Federation of Independent Business says Illinois is projected to gain 48,000 new jobs each year for the next decade now that the federal small business tax deduction was made permanent last year.

The NFIB released a report on Wednesday estimating an annual Illinois GDP increase of $3.2 billion for the first decade and $6.6 billion per year after 2035.

Since 2017, the small business tax deduction has allowed small businesses to deduct up to 20% of their business income.

CHICAGO ALDERMEN FAIL TO OVERRIDE VETO OF TIP CREDIT FREEZE

Chicago aldermen have come up short in their attempt to override Mayor Brandon Johnson’s veto of an ordinance freezing the city’s push to phase out the subminimum wage for workers.

Illinois Restaurant Association President and CEO Sam Toia expressed disappointment and urged the mayor to listen to the 30 aldermen he said stood up for operators and servers.

COOLEST THING MADE IN ILLINOIS HELPED BOOST ARTEMIS

The NASA Standard Initiator made by Chemring Energetic Devices in Downers Grove has won the 2026 Makers Madness contest for The Coolest Thing Made in Illinois.

The Illinois Manufacturers’ Association announced the winner on Wednesday from a field of more than 100 entries.

The IMA said the NASA Standard Initiator is an electrically-activated pyrotechnic device that played a critical role in the recent launch of the Artemis II/Orion mission.

Leave a Comment





Latest News Stories

‘Family Month’ backer cites biology, declining birth rates in defense of resolution

‘Family Month’ backer cites biology, declining birth rates in defense of resolution

By Catrina Barker | The Center Square contributorThe Center Square (The Center Square) – Illinois Family Institute Executive Director David Smith is praising a proposal from U.S. Rep. Mary Miller...
Aldermen say lawmakers failed to address illegal cannabis sales near schools

Aldermen say lawmakers failed to address illegal cannabis sales near schools

By Sean Reed | The Center SquareThe Center Square (The Center Square) – As the Chicago City Council’s public safety committee moved forward with an ordinance that would increase penalties...
Illinois Quick Hits: Oak Park woman charged with child care fraud

Illinois Quick Hits: Oak Park woman charged with child care fraud

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – An Oak Park woman is charged with defrauding the state of Illinois out of more than $30,000...
Florida attorney general appeals Chicago judge’s ‘lawless’ transgender ruling

Florida attorney general appeals Chicago judge’s ‘lawless’ transgender ruling

By Jonathan Bilyk | Legal NewslineThe Center Square Saying a Chicago federal judge overstepped his constitutional authority, Florida's state attorney general has asked a federal appeals court to quickly reverse...
Congressman calls out Chicago schools' academic woes

Congressman calls out Chicago schools’ academic woes

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – Chicago Public Schools Superintendent Macquline King testified before Congress that math and reading proficiency rates for CPS...
Everyday Economics: A stable labor market is not enough

Everyday Economics: A stable labor market is not enough

By Orphe DivounguyThe Center Square The May jobs report offered a measure of reassurance: the labor market is stable. Employers are still adding jobs, layoffs remain contained, and the economy...
Fishermen advocate begins campaign against offshore wind, ‘industrializing’ of the ocean

Fishermen advocate begins campaign against offshore wind, ‘industrializing’ of the ocean

By Tate RosentreterThe Center Square (The Center Square ) – The New England Fishermen’s Stewardship Association began a campaign to bring attention to what it says is a radical climate...
Sorensen drug-pricing bill draws criticism from former FDA official

Sorensen drug-pricing bill draws criticism from former FDA official

By Catrina Barker | The Center Square contributorThe Center Square (The Center Square) – U.S. Rep. Eric Sorensen, D-Illinois, is backing legislation he says would lower prescription drug costs by...
Supporters, critics clash over future of taxpayer funding for Rx Kids

Supporters, critics clash over future of taxpayer funding for Rx Kids

By Elyse ApelThe Center Square Michigan lawmakers remain divided over the future of the state's Rx Kids program as House Republicans continue scrutinizing the initiative. The first-in-the-nation cash assistance program,...
U.S. Senate race headlines Maine primaries as voters head to polls Tuesday

U.S. Senate race headlines Maine primaries as voters head to polls Tuesday

By Andrew RiceThe Center Square Voters in Maine will head to the polls Tuesday in high profile primary races that could help determine control of Congress. The races have garnered...
Bessent backs 3% deficit goal despite 5% budget forecasts

Bessent backs 3% deficit goal despite 5% budget forecasts

By Brett RowlandThe Center Square U.S. Treasury Secretary Scott Bessent pledged in two congressional hearings this week to cut the federal deficit to 3% of GDP, a target the government's...
Bessent backs 3% deficit goal despite 5% budget forecasts

Bessent backs 3% deficit goal despite 5% budget forecasts

By Brett RowlandThe Center Square U.S. Treasury Secretary Scott Bessent pledged in two congressional hearings this week to cut the federal deficit to 3% of GDP, a target the government's...
Constables hope to find missing children in immigration search effort

Constables hope to find missing children in immigration search effort

By Bethany BlankleyThe Center Square After months of Congress stalling on funding for U.S. Immigration and Customs Enforcement and administrative changes, Pennsylvania state constables who’ve signed agreements to support federal...
Constables hope to find missing children in immigration search effort

Constables hope to find missing children in immigration search effort

By Bethany BlankleyThe Center Square After months of Congress stalling on funding for U.S. Immigration and Customs Enforcement and administrative changes, Pennsylvania state constables who’ve signed agreements to support federal...
Lawmaker blasts reports of ‘equitable assessments’ at medical school

Lawmaker blasts reports of ‘equitable assessments’ at medical school

By Catrina Barker | The Center Square contributorThe Center Square (The Center Square) – Illinois State Rep. Bill Hauter, a Republican physician and graduate of the University of Illinois College...