Under Illinois’ new fiscal 2023 state budget deal, millions of taxpayers will be eligible for direct payment checks, with lawmakers saying payments will be made due to increased inflation in the US economy.
The payments are part of a $1.8 billion tax relief deal agreed to by state lawmakers. The deal also includes property tax refunds, a state sales tax suspension on groceries, and a state fuel tax freeze.
So who is eligible for the direct payments included in the new deal? Here is how the checks will be issued:
-50$ per individual taxpayer
-Families will receive $100 per child, with a maximum of three credits per family.
The following income caps will be part of the plan:
-Up to $200,000 for individuals, or
-Up to $400,000 for joint taxpayers
The checks are just a taxpayer relief program included in the state budget. Lawmakers say the state’s 1% sales tax on groceries will be suspended until the end of the new fiscal year, and a planned increase in the state’s fuel tax, which will currently stands at 39 cents per gallon, will not go into effect until at least January. 1.
That increase could be pushed back depending on the price of fuel, lawmakers said.
Finally, a property tax rebate of up to $300 per property will also be included in the bill, officials said.