Illinois Senate Republicans’ Plan to help working families
Between record-high inflation, forced business closures during the pandemic, and current daycare costs and shortages, working parents are struggling more than ever to earn a living while ensuring their family is being taken care of. Mothers have borne much of the brunt, with many not returning to work because they are caring for their children amid the daycare closures and limitations.
Members of the Senate Republican Caucus are fighting to make sure that more of parents’ hard-earned money stays in their pockets and that women can remain in the workforce and are not forced to be their family’s sole childcare provider.
SB 4186: CHILDCARE TAX CREDIT
Provides a refundable childcare tax credit to parents to help ease the rising cost of childcare and help parents get back to work. Credit would be equal to 25% of the federal tax credit. Parents with children 13-years old and younger with federal tax liabilities would qualify. Estimated savings of 37.5 million of working parents.
SB 4187: TAX CREDIT FOR COMPANIES PROVIDING CHILDCARE
Provides incentives to corporations providing childcare by increasing the tax credit for employers who offer childcare to their employees. Raises the tax credit from 30% to 50% of start up costs of a corporate childcare facility for the children of employees. Raise the tax credit from 5% to 20% annual amount paid to provide either on-site or off-site childcare for the children of employees.
SB 4188: FLEXIBLE CHILDCARE LICENSING
Works to address childcare deserts by requiring DCFS to adopt more flexible licensing requirements, specifically pertaining to worker qualifications, for areas with insufficient childcare options. This flexibility will allow childcare facilities to have more flexibility in hiring staff for childcare facilities.
SB 4189: CHILDCARE LICENSING REGULATION CHANGE
Due to ongoing issues at DCFS, this legislation would shift licensing for childcare facilities from DCFS to the Department of Financial and Professional Regulation. Facility visits for qualification and investigation procedures would remain under the jurisdiction of DCFS.
SB 4164: CUT SALES TAX ON FOOD AND PRESCRIPTION DRUGS
Eliminate the 1% sales tax on food (i.e. groceries) and prescription drugs/medical devices. Since the entirety of the 1% sales tax from these purchases goes to local governments, there is a provision that would ensure the local governments continue to receive what they receive now, increased by CPI on an annual basis.
Estimated taxpayer savings: around $434 million per year.
SB 4162: CUT GAS/GASOHOL SALES TAXES BY 1%
Lower the 6.25% sales tax on gas/gasohol to 5.25% for one year (FY23). Increase the Road Fund disbursement from 32% to 53%. Estimated taxpayer savings: $171 million at $3.00/gallon and nearly $200 million at $3.50/gallon