Will Illinois Pass a Permanent Child Tax Credit To Help Families?
Illinois lawmakers are pushing for a permanent child tax credit that would help alleviate the financial burden on low- and middle-income families in the state.
The proposed legislation would create a state version of the Child Tax Credit that was available at the federal level but expired last year. If passed, eligible families would receive a $700 tax credit for each child under the age of 17.
The timing of this bill comes when many families are struggling to make ends meet ever since the financial hit caused by the COVID-19 pandemic.
Many parents are still facing dire financial situations that come with providing for their families while dealing with job losses and reduced work hours.
Who is advocating for the Illinois Child Tax Credit?
State Senator Mike Simmons has been a strong advocate for the Illinois Child Tax Credit, according to reports, and believes that it would be a much-needed lifeline for many families.
Working parents are struggling worse than ever before. It is time for the state to create a permanent Child Tax Credit that puts money back into the pockets of parents in Illinois so that parents can take care of their children and communities can begin to recover.
Donna Carpenter, a parent leader with Community Organizing and Family Issues (COFI), is another advocate for the policy. "As a mother of five and grandmother, I know we need a Child Tax Credit," she said.
Even a few hundred extra dollars can help families like mine to get through. With an extra $700, I could pay some of my bills and go to the store to buy clothing for my disabled son.
How would the Illinois Child Tax Credit help families?
The proposed Illinois Child Tax Credit would be a huge help to families struggling to make ends meet. With $700 per child under the age of 17, families could use the funds to cover essential expenses like food, clothing, and medical bills.
For families with multiple children, the credit would provide a significant financial boost that could help them get back on their feet.
The proposed legislation would create a state version of the Child Tax Credit that was available at the federal level but expired last year. It would offer a $700 tax credit for each child under the age of 17 and would go into effect for the 2024 tax season.