How Much Could You Get in Inflation Relief Payments from the State of Illinois? – NBC Chicago

Under the new Illinois state budget deal for fiscal year 2023, millions of taxpayers will be eligible for direct payment checks, but how much could you get if the budget passes?

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.

The budget still needs to be passed by lawmakers, a move expected this week, and then signed by Governor JB Pritzker.

So who is eligible for the direct payments included in the new deal? Here is how the checks will be issued:

The following income caps will be part of the plan:

-Up to $200,000 for individuals, or

-Up to $400,000 for joint taxpayers

How much could you get? Here’s what the plan includes:

-50$ per individual taxpayer

-Families will receive $100 per child, with a maximum of three credits per family.

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.

Details on exactly how the checks would be distributed to eligible residents or when have not yet been released.

NBC Chicago

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