SPRINGFIELD (WSIL) � Governor J.B. Pritzker and Democrats in the Illinois House and Senate say they have agreed on a budget for Fiscal Year 2023.
“I want to thank Senate President Don Harmon and House Speaker Chris Welch for being true partners in hammering out a responsible, compassionate budget,� Pritzker said. “Over the last few weeks, and especially over the last 48 hours, we’ve engaged in a true give and take, which led to genuine compromise, and it honestly helped that we all came into this process committed to a fiscally-responsible spending plan that improved our state’s finances and helped our people in an hour of genuine need.�
The budget, according to Pritzker's office, would bring nearly $1.8 billion in tax relief for many Illinois families. Two of the proposals include a one-year suspension of the grocery tax and a six-month freeze on the gas tax.
According to the Governor's office, the proposal also doubles the property tax rebate, permanently expand the earned income tax credit, and provide "back to school tax relief" for families and teachers.
The proposal also outlines direct checks to families, including $50 per individual and $100 per child, up to three children per family. The income limits for eligibility to receive the funds, under the Democratic proposal, include $200,000 for individuals and $400,000 for joint filers.
$1 billion will also go towards the Budget Stabilization Fund, also known as the Rainy Day Fund, as well as an additional $200 million pension payment.
Senate Republican Leader Dan McConchie released a statement saying in part, "What is most unfortunate about the Democrats' budget plan is we have an opportunity right now to provide permanent tax relief for the people of Illinois, yet instead, the Democrats are choosing to provide one-time checks and other temporary relief just before the election which expires right after the election.
