Taxpayers To Receive Checks As Part Of Illinois Budget Deal Nbc Chicago

According to Governor JB Pritzker and the leadership of the Democrats in the Illinois Legislature, the new budget will be balanced again, with $ 1 billion earmarked for the state rainy day fund and $ 1.8 billion earmarked for taxes. for taxpayers. “I want to thank Senate President Don Harmon and House Speaker Chris Welts for their genuine contribution to creating a responsible, compassionate budget,” Pritzker said. “In the last few weeks, and especially the last 48 hours, we have been committed to a genuine handover, which has led to a genuine compromise, and it has really helped that we all embark on a process of financially responsible spending that improved our finances. of our state and helped our people in a time of real need. “ According to lawmakers, the state’s 1% sales tax on groceries will be suspended for the entire new fiscal year, which officials say will save up to $ 400 million in taxpayers by July 1, 2023. The state fuel tax, which was due to rise in July due to inflation, will freeze at $ 0.39 a gallon by January 1, 2023, saving taxpayers $ 70 million. Real estate tax deductions of up to $ 300 per household will also be included in the budget, along with an extension of state-acquired income tax credit, according to Governor JB Pritzker. Finally, the families will receive direct checks from the state pending the approval of the budget. Each person will be entitled to a check up to $ 50, while households will also receive $ 100 per child. The income threshold of $ 200,000 per individual taxpayer, or $ 400,000 for ordinary followers, will be attached to the checks, according to officials. The Illinois Democrats praised the new budget for its impact on taxpayers and its commitment to staying balanced, something the state has struggled with for decades. “We paid our bills, we saw our credit improvements, we invested in our priorities and we were able to send money back to taxpayers,” said Illinois Senate President Don Harmon. “As the governor said, a responsible, balanced budget was vital. We have that. ”

title: “Taxpayers To Receive Checks As Part Of Illinois Budget Deal Nbc Chicago " ShowToc: true date: “2022-12-16” author: “Wayne Ortiz”

According to Governor JB Pritzker and the leadership of the Democrats in the Illinois Legislature, the new budget will be balanced again, with $ 1 billion earmarked for the state rainy day fund and $ 1.8 billion earmarked for taxes. for taxpayers. “I want to thank Senate President Don Harmon and House Speaker Chris Welts for their genuine contribution to creating a responsible, compassionate budget,” Pritzker said. “In the last few weeks, and especially the last 48 hours, we have been committed to a genuine handover, which has led to a genuine compromise, and it has really helped that we all embark on a process of financially responsible spending that improved our finances. of our state and helped our people in a time of real need. “ According to lawmakers, the state’s 1% sales tax on groceries will be suspended for the entire new fiscal year, which officials say will save up to $ 400 million in taxpayers by July 1, 2023. The state fuel tax, which was due to rise in July due to inflation, will freeze at $ 0.39 a gallon by January 1, 2023, saving taxpayers $ 70 million. Real estate tax deductions of up to $ 300 per household will also be included in the budget, along with an extension of state-acquired income tax credit, according to Governor JB Pritzker. Finally, the families will receive direct checks from the state pending the approval of the budget. Each person will be entitled to a check up to $ 50, while households will also receive $ 100 per child. The income threshold of $ 200,000 per individual taxpayer, or $ 400,000 for ordinary followers, will be attached to the checks, according to officials. The Illinois Democrats praised the new budget for its impact on taxpayers and its commitment to staying balanced, something the state has struggled with for decades. “We paid our bills, we saw our credit improvements, we invested in our priorities and we were able to send money back to taxpayers,” said Illinois Senate President Don Harmon. “As the governor said, a responsible, balanced budget was vital. We have that. ”