Illinois lawmakers approve $46.5B budget with tax relief

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Illinois lawmakers approve $46.5B budget with tax relief
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Illinois House legislators worked through the night to approve a $46.5 billion budget early Saturday in a 72-42 vote.

SPRINGFIELD, Ill. -- Illinois lawmakers approved a $46.5 billion budget early Saturday that includes $1.8 billion in election-year tax relief and a $1 billion deposit into the state's rainy day fund.

The budget relies on a robust post-pandemic economy and health tax revenues to include $1.8 billion in mostly temporary tax cuts that track closely with Gov. J.B. Pritzker's election year proposal last winter. It also includes Democratic legislative leaders' response to soaring prices with temporary tax breaks on gas, groceries and real estate levies, and also includes a permanent expansion of a tax credit for low- and moderate-income taxpayers.Most people in Illinois will receive a small check as part of the $46.5 billion state budget passed early Saturday by lawmakers.

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