SPRINGFIELD (AP) — Gov. Pat Quinn is using his annual budget speech to talk about again increasing an income tax credit aimed at helping low-income Illinois families keep more of the money they earn.
Quinn spoke Wednesday during the annual budget speech to lawmakers. He says the tax credit should be increased over five years.
The last time Illinois made the increase was in 2011 as part of an incentive package drawn up to keep businesses in the state. At that time, Illinois' rate for the credit was among the lowest nationwide. The legislation increased it over two years from its original 5 percent to 10 percent by this year.
State officials said it would eventually translate to an average of about $100 a year per family.