Tax Relief

Within the midst of file inflation and excessive taxes, the Illinois GOP is pushing for tax breaks | Illinois

(The Center Square) – Illinois residents live in the least tax-friendly state, adding to record inflation, but Illinois Republicans on Tuesday announced a plan for immediate relief.

The newest Kiplinger report Illinois ranks at the bottom of the state’s tax-friendliness. The Economic Forecast publication rates income tax, property tax, and sales taxes by state, with Illinois ranking last.

“Sorry, Illinois, but you are the least tax-friendly state in the country for middle-class families,” the report said.

While the report states that Illinois residents have one of the highest taxes on income and sales, property taxes determine the ranking.

“The tax situation is going downhill really fast for Illinois residents when you look at the property taxes they have to pay,” the report said. “Illinois property taxes are the second highest in the nation.”

Add record inflation to the mix, and Rep. Avery Bourne, R-Morrisonville said the Illinoisans are feeling the brunt.

“We may not be able to address the causes of inflation at the state level, we can and believe that it is our responsibility to remedy the situation,” said Bourne. “So today we’re proposing an inflation tax break for families in Illinois.”

State Representative Tom Demmer, R-Dixon, plans to provide up to $ 400 in tax credits to taxpayers under certain income limits.

Individual taxpayers up to $ 75,000 would get back $ 200, joint taxpayers up to $ 150,000 would get $ 400, and full-time taxpayers up to $ 112,500 in income to get $ 200.

“Four hundred dollars won’t make all problems go away, but it could have a positive effect,” said Demmer. “It could be groceries an extra week or two, it could be a few extra utility bills, it could be the difference between getting new shoes or winter coats for your kids.”

To pay for the $ 1.4 billion plan, Demmer suggested re-prioritizing government spending to offset some of the $ 8 billion federal COVID-19 relief fund.

“We can provide funds to pay the debts of our unemployment insurance trust funds and provide taxpayers with relief,” said Demmer.

The Illinois Unemployment Insurance Trust Fund’s debt of nearly $ 5 billion accumulates at tens of millions of dollars in interest.

Bourne said the idea, once fully hatched, should receive bipartisan support when lawmakers return in January to provide the loan for the current tax year.

“This is just a suggestion, but we should look at a comprehensive package of legislation that should be bipartisan to reduce this tax burden that families in Illinois are feeling,” Bourne said.

Emanuel “Chris” Welch, spokesman for the Illinois House of Representatives, did not immediately respond when asked about his plan to combat high taxes and record inflation.

“Throughout the pandemic, Republicans have refused to come up with meaningful solutions aimed at helping working families cope with the resulting economic challenges,” Governor JB Pritzker’s office said in a opinion. “As Republicans are now trying to weigh 18 months late, this administration is hard at work putting billions of dollars in rental and mortgage grants, small business grants and utility grants into the hands of working families, all without help from The GOP factions. Add to the irony the fact that Republicans have been resolutely opposed to the fair tax that would have given 97 percent of Illinois residents a tax break. Since Illinois Republicans now support direct relief from the costs of working families, We look forward to your support for President Biden’s Build Back Better agenda and urge you to share your views on it with your counterparts in Washington. “

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