Illinois GOP senators urge action on business, worker tax relief

March 27, 2026 - 18:19

Three Illinois Senate Republicans are pressing for immediate legislative action on a proposed package they argue is critical for providing financial relief to the state's small businesses and their employees. The lawmakers emphasize that rising operational costs and economic pressures are straining local enterprises.

The proposed measures include a permanent repeal of the state's franchise tax, which businesses pay regardless of profitability, and an increase in the estate tax exemption to match federal levels to protect family-owned farms and businesses from steep taxes during generational transfer. Additionally, the package seeks to expand the research and development tax credit and raise the standard deduction for individual taxpayers, putting more money back into workers' paychecks.

The senators argue that this relief is essential for improving Illinois' competitive business climate, which they say lags behind neighboring states. They contend that without such interventions, small businesses will continue to face disproportionate burdens, potentially leading to reduced growth and job losses. The call to action frames the package as a necessary step toward economic stability and retention of both employers and residents in the state. The legislation's fate now rests with the Democratic-controlled General Assembly.