SPRINGFIELD, Ill. – Middle-class families would be able to keep more of their hard-earned money under legislation sponsored by state Rep. Stephanie Kifowit’s, D-Oswego, doubling the value of the Earned Income Tax Credit. The Kifowit-backed bill is a key element of an economic reform agenda introduced by House Democrats.
“Many families are struggling to make ends meet and it’s important we do all we can to help them,” Kifowit said. “Allowing working-families to keep more of their hard-earned money will not only help these families, but also provide a boost to Illinois’ economy.”
Kifowit 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 2 percent every year. Each 2 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.
This measure is a key element of an economic reform agenda recently introduced by House Democrats this year. Kifowit and her colleagues are pushing for initiatives that grow the economy while also strengthening the middle class. Rather than padding the profits of huge corporations who then outsource jobs overseas, Kifowit and the House Democrats are working to level the playing field for small and medium-sized employers, invest in education at all levels and outlaw taxpayer-funded incentives for businesses that move local jobs out of the country.
“I am focused on ways to lift up middle-class families in my district,” Kifowit said. “It’s time for the governor and legislators on both sides of the aisle to work together to help provide tax relief to those who need it most.”
For more information, please contact Kifowit’s constituent service office by phone at 630-585-1308, by email at Stephanie.Kifowit@att.net, or by visiting www.ILDistrict84.com.
Visit Rep Kifowit’s website
200-1S Stratton Office Building
Springfield, IL 62706
1677 Montgomery Rd.
Aurora, IL 60504
(630) 585-1357 FAX