DeLuca sponsors tax exemption legislation

A bill co-sponsored in the Illinois legislature by Rep. Anthony DeLuca, D-Chicago Heights, designed to maintain the standard income tax exemption, is awaiting Gov. Bruce Rauner’s signature.
 
The bill passed through the Senate and House as the legislative session ended May 30. DeLuca said without the bill, “the standard income tax exemption’s current rate is scheduled to expire, effectively raising taxes on middle-class families throughout Illinois.” 
 
“Residents deserve to keep more of what they bring in, and I encourage the governor to sign this extension into law. Allowing this tax exemption to expire would cause considerable harm to families who are already trying to make ends meet,” he said.  
 
Without action, the standard income tax exemption rate will lower from its current value of $2,175 to $2,000 on July 1. The legislation extends the exemption through 2023.
 
Prior to agreeing to a bipartisan budget, the governor’s proposed budget had counted on savings from the rate expiration to balance his spending plan, effectively raising taxes on residents, DeLuca said.
 
“Despite his initial willingness to allow the rate to expire, I am confident that the governor will see the broad bipartisan support this extension received and will ensure that taxpayers are able to keep more of what they earn.”

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