One state has lawmakers with a new proposal that would give parents $600 per year in the form of a child tax credit.
Those who would benefit are 2.2 million children in the state of Illinois that benefitted from the CTC federally.
If approved, kids 17 and under in the state would qualify.
The credit will be refundable and available when parents file their state tax returns.
In 2021, parents benefitted from up to $300 per month from the federal child tax credit that gave out advanced payments.
Is there a credit similar to the CTC available in 2022?
What other benefits is Illinois considering besides the child tax credit?
In addition to creating a $600 CTC, the state is looking at expanding its earned income tax credit.
Over 1.2 million Americans would benefit from this.
40% of Illinois state residents could see permanent tax cuts.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].