illinois budget

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

The budget plan now awaits Gov. J.B. Pritzker’s signature.

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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.

NBC Chicago/Associated Press
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