As Illinois lawmakers prepare for the end of their fall session Tuesday, they're posed to consider a bill that would expand tax credits for working families, which could mean bigger refunds for people struggling come tax season.
The earned income tax credit is tacked on to a $250 million tax-break package that will includes breaks for CME group, which olds Chicago's two financial exchanges, and Sears, an effort to keep both in Illinois, the Chicago Sun-Times reports. Amendments filed Sunday would also extend tax breaks to thousands of other businesses, including a $1 million reserve for Chicago's big-budget theatrical productions.
Gov. Pat Quinn added the income tax credit to the bill, and called it a vital support for Illinoisans struggling, WBEZ reports. The expanded credit would impact about 935,000 households, Quinn said.
"We need to help our working families, and I'm going to fight hard for that," the governor told WBEZ.
The bill will likely be voted on by the full House on Tuesday, when lawmakers return to Springfield, the Sun-Times reports. It is presently unclear whether the measure will face additional changes in the Senate.
"The bills are still being worked on at this point and we are encouraged by the progress towards a final package that will help both working families and employers," Quinn's office said Sunday afternoon, according to the Chicago Tribune.