A plan to give tax breaks to low-income workers in Illinois is headed to Governor Quinn. Senator Matt Murphy supported the measure because it gives people a chance to go to the next level in life.
The proposal will raise the earned income tax credit from five to seven-and-a-half percent next year. It will jump to ten percent in 2014. It will also increase the standard exemption for all Illinois tax payers from two-thousand dollars to two-thousand-50 dollars in 2012. After that, it will automatically adjust with inflation. The bill will cost the state about 155-million dollars.