SPRINGFIELD – State Senator Michael E. Hastings shepherded a bipartisan relief package to assist and provide financial assistance to all Illinoisans.
Hastings (D-Frankfort) sponsored Senate Bill 157, a comprehensive revenue package to provide tax relief to families throughout the state.
“We are slowly recovering from the most severe public health crisis that our state, country and the world has seen in the last century,” Hastings said. “These vital tax dollars belong in the hands of Illinois families. This measure prioritizes families by giving them the much needed and deserved relief they’ve been longing for.”
Senate Bill 157 includes a state sales tax reduction on clothing, shoes and school supplies for 10 days in August to give consumers an economic boost as they go back-to-school shopping. The sales tax would be lowered to 1.25% from 6.25% from Aug. 5 to Aug. 14.
“As a father of two children, I understand that back-to-school shopping can be expensive,” Hastings said. “This measure recognizes the reality that families across the state face and should help lower the bill on their back-to-school shopping.”
Hastings’ plan also includes property tax relief checks of up to $300 and relief checks valued at $50 per person and $100 per child to state taxpayers making up to $200,000 individually or up to $400,000 jointly to be directly mailed to households. A household of four could see a $300 check.
“This measure puts money back in the pockets of homeowners and families in the South Suburbs,” Hastings said. “What better way than to give them the freedom to choose how they wish to spend that money.”
Senate Bill 157 also includes:
- Wiping out the state’s sales tax on groceries for a year and stopping a higher gasoline tax increase from happening this summer.
- Exempting breast pumps, breast pump collection and storage supplies, and breast pump kits from sales taxes.
- Giving educators a tax credit of up to $500 for supplies bought for their classrooms.
- Creating an Organ Donation Tax Credit for employers who allow their employees paid leave for organ or bone marrow donation.
During Hastings’ time in the Senate, Illinois has received multiple credit rating upgrades including Moody’s Investors Service, S&P and Fitch. Illinois has also reported to have paid back the bill backlog and has been paying its bills in about 15 business days since July 1, 2021.
“Our responsible fiscal decisions have put our state on the trajectory for economic growth and we now have the opportunity to pay it forward and help provide relief to the hard working families of the fighting 19th,” said Hastings.
Senate Bill 157 passed the House and Senate with bipartisan support on Saturday and awaits the governor’s approval.
April 13, 2022 at 03:50PM