Rep. Tom Demmer (R-Dixon) is pushing a proposal calling for a refundable tax credit for Illinois families making under $150,000.
"This refundable tax credit for families would provide up to $400 of immediate economic relief to help them put those dollars toward things that are important and are priorities for them, places where they've felt an additional pinch or places where their budget has an unexpected hole in it," Demmer said.
"As we consider the state's budget process, as we consider where the state's prioritizing our dollars and our investments," Demmer said. "We need to think long and hard about what we can do to deliver meaningful relief to Illinois families in the face of unprecedented growth, in inflation, and unprecedented price increases on many everyday staple goods.
Sen. Darren Bailey (R-Louisville) is addressing similar concerns through co-sponsoring Senate Bill 4195 which would cap the state’s sales tax on motor fuel at 18 cents per gallon. That price is what consumers were paying last fall before prices started to climb dramatically.
“People are tired and worn down from government overreach which continues to create chaos and uncertainty across our state,” said Bailey on his website. “If the last two years haven’t been hard enough with COVID mandates, now residents are having to foot the bill for our government’s failures. It is time we put a stop to this madness and lower our state’s taxes to provide the meaningful relief that all hard-working Illinoisans deserve.”
House Republicans are promoting the similar House Bill 5723, which would also cap the sales tax on motor fuel retailers at 18 cents.
HB 5723 was introduced on March 11 and had its first reading on March 15 before being referred to the Rules Committee.
Another Republican-backed effort is House Bill 5481, would amend the Use Tax Act, as well as other tax laws, to suspend the gas tax if the percentage increase in the Consumer Price Index is more than 3% over the previous year. The bill is sponsored by Reps. Patrick Windhorst (R-Harrisburg), Keith Wheeler (R-North Aurora), Amy Elik (R-Alton) and Tom Weber, (R-Fox Lake).
The bill was introduced on Jan. 28 and was referred to the Rules Committee, but has not been called or scheduled since.
The U.S. Energy Information Administration reported motorists are paying 15% in taxes at the pump.
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