SPRINGFIELD, Ill. – Middle-class families would be able to keep more of their hard-earned money under legislation sponsored by state Rep. Natalie Manley, D-Joliet, doubling the value of the Earned Income Tax Credit. The Manley-backed bill is a key element of an economic reform agenda introduced by House Democrats.
“Working families deserve tax relief, which is why I’m supporting an extension of the Earned Income Tax Credit, which will increase take home pay and will help uplift Illinois’ middle-class,” Manley said. “The best way to create jobs in Illinois is by increasing consumer spending ability, which will create more demand for goods and services.”
Manley is sponsoring House Bill 2475, which would double the value of the state’s Earned Income Tax Credit over the course of five years, raising the value of the credit by two percent every year. Each two percent increase would put an estimated $44 million back in working families’ pockets. Additionally, the U.S. Conference of Mayors indicates that every $1 returned to taxpayers through the Earned Income Tax Credit generates between $1.50 and $2 in economic activity, helping local businesses grow.
The measure is a key element of an economic reform agenda recently introduced by House Democrats this year. Manley and her colleagues are pushing for reforms that grow the economy while also strengthening the middle class. Rather than padding the profits of corporations by reducing middle-class wages and slashing the rights of Illinois’ workers, Manley and the House Democrats are working to level the playing field for small and medium-sized employers, raise the minimum wage, invest in education at all levels and outlaw taxpayer-funded incentives for businesses that outsource local jobs.
“We need to make sure that we do everything we can to put working families first,” Manley said. “As a certified public accountant, I know middle-class economics is the key to growing our economy and creating good jobs. I will continue to fight for local families by supporting policies that provide them with meaningful tax relief and increases consumer confidence.”
For more information, please contact Manley’s full-time constituent service office at 815-725-2741 or at RepManley@gmail.com.