Chambana Sun

Senator Chapin Rose said he is worried about tax relief in the $46 billion budget that Gov. J.B. Pritzker signed for the 2023 fiscal year.

“We believe that if you let people spend their own money, they will spend it wisely and they’ll make the right decisions for them and their families," Rose said. "That’s it. Permanent tax relief was an option that's not here today.”

The State Journal-Register reported the budget included $1.8 billion in temporary tax relief.

“These are just some of the kind of priorities that we can invest in when our state is governed responsibly, with a focus on working families and those who have, too often, been left out and left behind,” Pritzker said to WIFR.

Senate Bill 157 was advanced by both the Senate and the House unanimously. It was advanced by the House on April 9.

WIFR reported the budget allocated $1 billion for the state’s rainy day fund.

“These are just some of the kind of priorities that we can invest in when our state is governed responsibly, with a focus on working families and those who have, too often, been left out and left behind,” Pritzker said to WIFR.

SB157 creates several tax incentives for taxpayers in the state and gives them a little relief after the high inflation rate the country is currently experiencing.

The budget is also sending money toward funding higher education.

“The budget increases investment in MAP and provides increased opportunity for our students to access complete a college education right here in our great state of Illinois,” Chicago State University President Zaldwaynaka “Z” Scott said, according to the State Journal-Register. “The dividends of this investment will not only yield our state immediate benefits but will impact families for generations to come.”

SB157 also creates the Manufacturing Illinois Chips for Real Opportunity (MICRO) Act, which was a big selling point for Republican legislators. MICRO will create tax incentives for manufacturers of semiconductors, microchips or semiconductor or microchip parts.