Bipartisan group of Illinois lawmakers support new plan to provide tax credits to businesses which pay their employee’s student loan debt

Illinois General Assembly (Credit: BlueRoomStream)

The Illinois Manufacturers’ Association hopes to fill tens of thousands of open jobs across the state with new tax credits and scholarship programs during the 2024 legislative session.

A bipartisan group of state lawmakers is supporting a
plan to provide manufacturing companies a tax credit if they help pay student loan debt for their employees.

Sponsors said many companies already assist workers with education costs, but others are hesitant to help because they can’t afford to pay off loans for every employee.

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