CHICAGO — As lawmakers wrap up the spring legislative session, they are expected to vote on Illinois’ next annual budget, which would freeze certain taxes and expanding tax credits. Lawmakers are expected to pass the budget before the end of the day Friday.
A new spending plan would try to fight inflation by freezing certain taxes.
Democrats are touting the bill saying money should stay in the pockets of the people that need it most, pointing to $1.83 billion for working families.
"Illinoisans will benefit from a billion dollars in tax relief at the pump, in the supermarket check out and in their property tax bills,” Gov. JB Pritzker said.
The earned income tax credit will be expanded permanently, in addition to taxes on groceries being suspended for an entire year.
"This budget is balanced. It continues to pay all of our bills and put Illinois on path to financial surety, all can be proud about,” Speaker Emanuel Chris Welch said.
The gas tax would stay frozen until January and property tax rebates would double up to $300. Taxes would also be frozen in the late summer, when families are purchasing school supplies.
Some low income families should expect to get checks in the mail.
"It’s $50 per person and $100 per child up to three children,” Illinois Senate President Don Harmon said.
Even with a frozen gas tax, roads will still get repaired. To maintain roads, the state will be dipping into money that normally goes to fix leaking underground fuel tanks, shifting approximately $140 million.
The budget also includes $200 million for public safety measures, funding law enforcement but also programs that are intended to prevent crime.
News,Region: Chicago,City: Chicago
via News | WGN-TV https://wgntv.com
April 8, 2022 at 05:11PM