"Illinois Passes $53B Budget with Tax Credits and Grocery Tax Elimination"
TL;DR Summary
Illinois' new state budget includes a more generous standard tax exemption for 2024, increasing from $2,425 to $2,775, which will save a family of four over $69. This change, costing $172 million, ties the exemption to inflation again after it was previously frozen. Gov. J.B. Pritzker supports the increase, which aims to provide tax relief for everyday families.
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