In response to continued high inflation and increased cost of living, several members of the Senate Republican Caucus came together at a Capitol press conference to advocate for solutions to the economic issues facing Illinoisans. While the previous year did attempt to provide some financial relief, the Majority Party failed to provide a permanent or meaningful impact on families, who are still struggling.
During the press conference, the Senators highlighted several proposed bills that would provide financial relief for families, including,
- Senate Bill 1150: Makes the one-year state sales tax exemption for groceries permanent and also exempts prescription drugs and other medical devices from state sales tax beginning July 1, 2023.
- Senate Bill 1151/Senate Bill 168: Provides parents with a state tax credit equal to 25% of the federal tax credit for each qualifying child. Qualifying families would receive a tax credit of up to $500 per qualifying child on state income taxes.
- Senate Bill 2200: Appropriates $200 million in energy rebates for Ameren customers through an already established program. Qualifying households would receive about $170 in credits toward their power bills.
- Senate Bill 1152/Senate Bill 330: Increases Illinois’ income tax exemption for seniors from $1,000 to $2,000.
These solutions present an opportunity to provide much-needed, permanent relief to Illinoisans who often have to choose between buying groceries or paying their utility bills.