SPRINGFIELD, Ill. — Illinois state legislators introduced SB 1444 legislation today that would create an Illinois Child Tax Credit claimable in the 2024 tax season.
If Illinois legislators pass it, eligible low-and middle-income Illinois families would receive a $700 tax credit for each child under the age of 17.
The proposed policy would benefit joint filers earning less than $75,000 and single filers earning less than $50,000.
This bracket accounts for nearly half of Illinois households with children.
“I am extraordinarily proud to join my colleagues in the Illinois state legislature in introducing a new bill to ease the burden that our communities face in affording everyday expenses,” said State Representative Marcus C. Evans, Jr.
“In creating an Illinois Child Tax Credit, we join a growing number of statehouses working to ensure parents have a bit more money to keep their homes heated and their children fed.”
“As a mother of five and grandmother, I know we need a Child Tax Credit,” said Donna Carpenter, a parent leader with Community Organizing and Family Issues (COFI) who advocates for the policy.
“Even a few hundred extra dollars can help families like mine to get through. With an extra $700, I could pay some of my bills and go to the store to buy clothing for my disabled son.”
Legislators believe that creating the credit is the most immediate, meaningful, and direct tool to help Illinois’ families with the rising costs of living.
In addition, the legislation would support workers struggling to balance childcare and work, as well as strengthen small business and local economies.
Media Feeds All
via http://www.wrex.com – RSS Results in news of type article https://ift.tt/6C1TMut
February 7, 2023 at 04:24PM