ILLINOIS (WEHT) – A press release from Illinois states that Gov. Pritzker made historic progress towards financial stability for Illinois.

Illinois says that Gov. Pritzker’s fiscal year 2023 budget provides funding for education, human services, law enforcement and violence prevention. It also funds pensions at $500 million more than required, repaying the state’s remaining outstanding debts, and putting $1 billion in the “rainy day” fund for unforeseen emergencies.

“The budget I’m signing into law today brings real improvements to the lives of working families and sets us up for a stronger fiscal future,” said Governor JB Pritzker. “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.”

“Given the pandemic and the impact of inflation, we know families are in desperate need of relief,” said Rep. Mike Zalewski (D-Riverside). “After months of negotiations, today the governor is signing a budget that supports people and families that need help the most, and provides tax incentives to support Illinois businesses. This budget reaffirms our commitment to recovery for families and businesses across Illinois.”

Some parts of the budget plan include:

  • Suspension of the tax on groceries for one year
  • Freezing the motor fuel tax for six months
  • Providing $520 million for a one-time property tax rebate – 5% of property taxes paid, up to $300 per household
  • Permanently expanding the earned income tax credit from 18 to 20 percent of the federal credit while expanding the number of households covered
  • Provides $685 million for direct rebate checks to working families
    • $50 per individual
    • $100 per dependent, up to three children per family
  • Income limits: $200,000 for individuals and $400,000 for joint filers
  • Provides families with a “Back to School” sales tax holiday on clothing and school supplies for a week in August and doubles tax credit for teachers who buy classroom supplies

A press release from Illinois states that Gov. Pritzker invested in the following areas, as well as a few examples of these investments:

  • Responsible fiscal management
    • Paid some outstanding debts
    • Contributes to the state’s “rainy day” fund by setting up ongoing, permanent funding
  • Public safety and violence prevention
    • Violence prevention, youth employment, and diversion program appropriations
    • Cannabis revenues are being used to support communities harmed by violence, excessive incarceration, and economic disinvestment  
  • Investments in education
    • Transportation and special education district reimbursements  
    • Evidence-Based Funding for K-12 schools
  • Strengthening healthcare, mental health and social service funding
    • Healthcare – hospital tax relief
    • Mental health – implement the 9-8-8 Call Center and Crisis Response
  • Support for businesses, communities, and the environment
    • Grant funding for business attraction and retention
    • Funding for unsewered communities planning and construction grants for communities around the state
  • Capital funding
    • A continuation of the historic Rebuild Illinois program
    • Invest in transportation, water, broadband, clean energy and more.
  • American Rescue Plan Act (ARPA)
    • Affordable housing programs through the Illinois Housing Development Authority
    • Violence prevention and interruption grants at Criminal Justice Information Authority (CJIA)