SPRINGFIELD, Ill. – A measure sponsored by state Rep. Michelle Mussman, D-Schaumburg, designed to defend Illinois taxpayers from increased tax rates passed out of the Illinois House.
“The federal government’s plan to give tax breaks to large corporations while loading the burden onto middle-class families is not an economically feasible proposal,” said Mussman. “Through the creation of the Illinois Education Excellence Fund, we will be able to better fund public education while also providing tax relief to local families.”
The Mussman-backed measure, House Bill 4237, adjusts the state income tax code to allow taxpayers to contribute to the Illinois Education Excellence Fund – a fund designated for public education expenses, including early childhood education, elementary and secondary education, higher education and adult education.
Taxpayers would then be eligible to use those payments to qualify for tax credits, which can be applied directly to their federal income taxes, saving them money on their tax bill.
“As state Representative, my priority is the interests of the working families that I represent,” continued Mussman. “I think that it is a problem that the federal government has sought out tax breaks for the ultra-wealthy, leaving middle-class families to foot the bill. I’m proud that Illinois leaders are doing their part to look out for the best interest of our residents.”