One state will soon be subjected to stimulus checks. Illinois State Senate Democrats offered $1.8 billion in tax cuts at the beginning of the month, including stimulus payments for nearly all state citizens. However, the amount may be unimpressive because Illinois is moving forward with rumored intentions to issue statewide stimulus cheques in its most recent budget.
According to state Senator Elgie Sims, the goal was to assist residents in navigating growing inflation. It is one of the country’s first stimulus programs, designed to help residents deal with a troubled economy rather than replacing lost salaries due to lockdowns.
“We’re going to bring down soaring gas and grocery prices, providing much-needed relief to individuals,” Sims added.
Republicans in the state, on the other hand, say that the bill is nothing more than a gimmick.
“Illinoisans will see right through this deceptive ruse,” said Dan McConchie, chairman of the Illinois Republican Party.
The Illinois State Budget has been approved.
Legislators in Illinois worked until the early hours of Saturday morning to pass a $46.5 billion budget for the coming fiscal year. Budget proposals were due by 9 p.m. on Friday. Voting was postponed after Republicans complained that 4,7000 pages of legislation describing tax policies for the next fiscal year had been presented late.
Senator Chapin Rose, a Republican, chastised state Democrats for disclosing the material so late in the process.
“Everyone in this room understands it’s nearly impossible to know what’s going on here unless a bill is filed,” he said. “How do you even start asking questions about something that doesn’t exist yet?”
Several tax relief measures are included in the package, including mailing $50 cheques to Illinois citizens who earn less than $200,000 and filing separately. Joint filters earn less than $400,000. Will receive $100 cheques. Finally, each dependant will receive a $100 payment, with three dependents per family.
Other tax initiatives include raising the earned income tax credit to 20% of the federal credit — an 18% increase that could cost the state up to $100 per year.
Increased Relief Measures
After Democrats and Republicans reached an agreement on the budget, Illinois Governor JB Pritzker made a statement emphasizing the need for “uplifting working families.”
“Today, leaders in both chambers have reached an agreement on another sensible, balanced budget that does exactly that,” writes Pritzkey’s office. “Our plan provides Illinois taxpayers with more than $1.8 billion in tax relief, adds $1 billion to our state’s long-depleted Rainy-Day Fund, and doubles down on our efforts to make significant public-safety investments.”
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Other relief measures detailed in the press release include a one-year suspension of the grocery tax, a six-month freeze on the motor fuel tax, a doubling of the property tax rebate, and “back-to-school tax relief for families and teachers.”