Home Uncategorized The Illinois Democrat Pritzker’s budget deal provides $ 1.83 billion in tax...

The Illinois Democrat Pritzker’s budget deal provides $ 1.83 billion in tax breaks for working families, the governor says

121
0



SPRINGFIELD, Illinois (CBS) – Illinois Governor J. B. Pritzker and the Democratic leaders in the state General Assembly have reached an agreement to return the money to your pocket.

Pritzker advertised that the 2023 fiscal year budget agreement provides $ 18.3 billion in tax breaks for working families.

The budget suspends the food tax for one year, freezes the gasoline tax for six months, doubles the property tax rebate of up to $ 300 per household and constantly expands the income tax credit. It also provides direct checks to working families – $ 50 per person and $ 100 per child for three children per family. Revenue limits for these direct checks are $ 200,000 for individual applicants and $ 400,000 for joint ones.

The budget also provides tax breaks for families and teachers.

Pritzker also advertised that the budget provides $ 1.2 billion for long-term fiscal stability – from $ 1 billion for the Budget Stabilization Fund and another $ 200 million for pensions. The pension brings the total state pension fund up to $ 500 million and saves taxpayers more than $ 1.8 billion, Pritzker’s office said.

The budget is further investing more than $ 200 million in support of public safety measures so police can prevent and detect crime and increase investment in violence prevention programs, Pritzker’s office said.

“For the past three and a half years, my partners in the General Assembly and I have worked to fix the state’s financial ship and ensure that public resources are responsibly directed to the government’s primary goal: strengthening working families,” Governor Pritzker said. news. to release. “Today, the leaders of both chambers have agreed on another responsible, balanced budget that does just that. Our plan provides more than $ 1.8 billion in tax breaks for Illinois residents, adding $ 1 billion to our state’s long-running rainy day.” and redoubles our efforts to make unprecedented investments in national security. ”

The budget is almost complete, but still has to pass the full Illinois General Assembly, which is controlled by Democrats.

Previous article“It’s wrong”: a woman calls on CBS 2 to help get thousands of debt in front of her from a tenant who will not pay rent
Next articleA man in custody after police say he kidnapped a girl in the South Coast