Here Are the Tax Cuts Included in Illinois' Newly-Approved $46.5B Budget

Illinois lawmakers approved a $46.5 billion budget Saturday that includes $1.8 billion in election-year tax relief, but in which areas will residents benefit? First and foremost, some Illinoisans will receive direct checks. The measure includes payment to Illinois residents making less than $200,000 per year or $400,000 per year for couples filing jointly. Each taxpayer would receive $50, plus $100 for each dependent child, capped at three. The checks are just one taxpayer relief program included in the state’s budget. Lawmakers say that the state’s 1% sales tax on groceries will be suspended through the end of the new fiscal year, and a planned increase in the state’s fuel tax, which currently sits at 39 cents per gallon, will not take effect until at least Jan. 1. Finally, a property tax rebate of up to $300 per property will also be available to Illinois residents, officials said. The budget also includes more than $200 million for new public safety initiatives that answer Republican criticism that Democrats were not doing enough to address rising crime. The budget plan, which also puts $1 billion into a state “rainy day” fund, now awaits Pritzker’s signature. It would go into effect on July 1, the start of the state’s fiscal year.

The, Doctor