Rep. Tom Demmer (R-Dixon) recently held a new conference to address the impact that inflation was having on families.
“That's why today we're proposing an up-to $400 refundable tax credit for Illinois taxpayers across the state. Our proposal mirrors some of the financial aid that was given by the federal government in the last couple of years,” he said. “Our proposal would call for single filers (who make) up to $75,000 in income to receive $200. Joint filers (who make) up to $150,000 to receive $400 and head of household filers (who make) up to $112,000 to receive $200.”
Demmer said it was up to state politicians to address inflation so that families in the state could deal with ongoing monetary issues.
“All across the state of Illinois today, families are feeling an increased burden because of rising costs due to inflation, the supply chain disruption and the high taxes that Illinois families uniquely deal with – even above and beyond what families across the United States are dealing with,” he said. “As legislators we have the obligation not just to look at the financial health of the state government budget, but also to think of the financial health of the constituents that we serve, the financial challenges that they face and do whatever we can to provide some kind of relief for them.”
Illinois is ranked by Kiplinger at the bottom of its tax-friendly state list for middle class families, with state taxes listed as the seventh-highest in the nation, and property taxes the second-highest in the country.
The state saw its largest inflation jump in over 30 years during October’s price surge, according to CNBC.
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