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Saturday, December 28, 2024

Rose compares Republican, Democratic tax beaks: 'On all counts, our plan is far superior'

Chapinrosesenator

Sen. Chapin Rose | SenChapinRose.com

Sen. Chapin Rose | SenChapinRose.com

Sen. Chapin Rose (R-Decatur) recently called out Democrats’ effort in handling tax breaks in the state’s budget.

“On all counts, our plan is far superior to what’s been released by either the House Democrats or the Senate Democrats,” Rose said in a statement. “The sales tax on gasoline is far more relief to families in this state than their plan and the governor’s plan. On property taxes, it provides better relief.”

Illinois has a state income tax of 4.95%.

Senate Bill 4164 was filed by Sen. Don DeWitte (R-West Dundee) and would cut sales tax permanently on food, medical devices and prescription drugs in the state. It was introduced on Feb. 9 and referred to the Senate Assignments Committee.

Gov. J.B. Pritzker signed a $46.5 billion budget Tuesday that included $1.8 billion in election-year tax relief.

“The budget I’m signing into law brings real improvements to the lives of working families and sets us up for a stronger fiscal future,” Pritzker said in a statement. “Investments in stronger schools, modernized airports and newly paved highways, hundreds of thousands of well-paying infrastructure jobs, and a better funded pension system… these are the kind of priorities we can invest in when our state is governed responsibly.”

Senate Bill 4163 increases the property tax income credit from 5% to 10%. It was introduced by Rose on Feb. 9 and referred to the Senate Assignments Committee.

Illinois Policy reported Illinoisans are paying the highest combined state and local tax rates in the United States.

Senate Bill 4161 would make the senior income tax exemptions permanent, increasing the exemptions that seniors receive on their income taxes from $1,000 to $2,000 per year. It was introduced by Sen. Sue Rezin (R-Morris) on Feb. 9 and referred to the Senate Assignments Committee.

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