Illinois lawmakers could expand earned income tax credit, create child tax credit

Heart of Illinois ABC. March 2022. Two bills currently under review in the Illinois legislature seek to expand the number of families who are eligible for tax credits and increase the amount they receive. The first would expand EITC eligibility to include adults 18-24, older residents over 65, and tax filers using an Individual Taxpayer Identification Number (ITIN). The second would create a state-level Child Tax Credit (CTC) worth $600 per child. The proposal would cost roughly $415 million, which is <1% of the state’s average annual General Revenue Fund.

Illinois lawmakers could expand earned income tax credit, create child tax credit