• RSS News – Lou Lang

    • A third year with a phony budget? If so, Governor, grab the veto pen - Chicago Tribune May 24, 2016
      Chicago TribuneA third year with a phony budget? If so, Governor, grab the veto penChicago TribuneLou Lang, D-Skokie, told a crowd of union workers last week that it is Rauner who's not interested in doing the job he was elected to do. Then he added: "We may or may not have a budget during the entire term of Bruce Rauner." And the crowd of Ame […]
    • Fun and games while Illinois burns - Chicago Tribune May 23, 2016
      Chicago TribuneFun and games while Illinois burnsChicago TribuneLou Lang of Skokie, one of Madigan's top allies, told a Springfield reporter, "It's entirely possible that we won't have a budget during the governor's term in office." Politicians are not known for being honest, but in this case I'd contend that ...and more » […]
    • BOWLING: Dave Schussler, Keith Merritt get 300 games - The Daily Freeman May 23, 2016
      BOWLING: Dave Schussler, Keith Merritt get 300 gamesThe Daily FreemanFATHER AND SON—Lawrence Lang 238-236-279—753, Kerry Boughton 268-245-237—750, Paul Scism Jr. 237-245—710, Kevin Hines 254—680, Jared Knox 255—658, Virgil Helzer III 278—655, Keith Hines 238—637, Ryan Hartrum 236—620, Ralph Perez ... Keith ...
    • The ultimate guide to summer concerts in Northern California - SFGate May 22, 2016
      SFGateThe ultimate guide to summer concerts in Northern CaliforniaSFGateLou Gramm (June 17), Blue Oyster Cult (June 24), the Tubes (July 1), the Family Stone (July 8), Gregg Rolie (July 15), Toad the Wet Sprocket (July 22), Taylor Dayne (July 29), Y&T (Aug. 5), Foghat (Aug. ... Eric Bibb, Harry Belafonte, Neko Case-k.d ...
    • It's time for Illinois to graduate to a progressive income tax - Chicago Tribune April 28, 2016
      Chicago TribuneIt's time for Illinois to graduate to a progressive income taxChicago TribuneLou Lang of Skokie, is shown on the House floor in June 2015. Lang has sponsored a bill that would tax individuals with an annual income over $500,000 at 8.75 percent. (Justin L. Fowler, State Journal-Register). Eric ZornContact ReporterChange of Subject.Graduate […]
    • Rep. Lang Calls On Sen. Kirk To Act - FOX Illinois May 3, 2016
      FOX IllinoisRep. Lang Calls On Sen. Kirk To ActFOX IllinoisWASHINGTON, DC (WRSP) — State Representative Lou Lang is sending a message to Illinois Senator Mark Kirk. In a press conference Monday, Lang says Kirk is not doing his job when it comes to confirming President Obama's Supreme Court nominee, ...and more »
    • House Democrats propose graduated income tax plan - Chicago Sun-Times April 16, 2016
      Chicago Sun-TimesHouse Democrats propose graduated income tax planChicago Sun-TimesLou Lang, D-Skokie, filed Friday — which will only work if Illinois voters approve a constitutional amendment to reform the tax code — most married taxpayers would pay 3.5 percent for income of $200,000 or less; 3.75 percent on income between $200 ...What you need to know abou […]
    • A Guide to the NY Phil Biennial From Our Critics and Reporters - New York Times May 19, 2016
      New York TimesA Guide to the NY Phil Biennial From Our Critics and ReportersNew York Times... in the faculty and alumni of the Yale School of Music on May 25 at the Greene Space in Lower Manhattan. Distinguished students of the school's past (Charles Ives) and present (Hilary Purrington) share the program with works by Martin Bresnick ...
    • Erie County Real Estate transactions - Buffalo News May 22, 2016
      Erie County Real Estate transactionsBuffalo News246 Wyeth Drive, Cynthia Laduca; Louis J. Laduca to Eric Kager; Sara Kager, $234,900. .... 44 Lang Ave., Bank of New York Mellon Tr; Inc Cwheq Tr.; Cwheq Revolving Homeequity Loan Trust Series 2007-E Tr to Management LLC Yersy, $12,500.and more »
    • Lawmaker: Budget stalemate could last entirety of Gov. Rauner's term - IllinoisHomePage.net May 19, 2016
      IllinoisHomePage.netLawmaker: Budget stalemate could last entirety of Gov. Rauner's termIllinoisHomePage.netSPRINGFIELD -- If almost a year without a budget feels too long, one state lawmaker said its possible the stalemate could stretch on for several more. State Representative Lou Lang (D-Skokie) said the state could go without a budget for the near f […]
  • RSS Blogs – Lou Lang

    • An error has occurred; the feed is probably down. Try again later.

Tax Relief Bill to Bring $150 Million to Illinois Households, Says Rep. Lang

(Skokie, IL) – The Illinois House of Representatives on Monday approved a $150 million tax relief bill targeting individual households.

The legislation, Senate Bill 400, which the House passed on a vote of 67-49, would increase Illinois’ Earned Income Tax Credit for low-income, working households from a maximum of $283 to $566, boosting worker take home pay $55 million in 2012 and $110 million in 2013.

According to Deputy House Majority Leader Lou Lang (D-Skokie), a married couple with three children earning $30,000 a year would pay $799 in Illinois income taxes under current law. The new tax relief bill would drop their tax bill to $625 this year and $600 next year.

“For many hard-working families, $200 is a significant amount of money to go back in their pocket,” said Lang. “In turn, they will likely spend that money at a local business, boosting the economy.”

More than 2.5 million people benefited from the tax credit in 2009.

In addition to raising the earned income tax credit, the legislation also raises the standard tax exemption for households from $2,000 to $2,050, indexing it for inflation.

“By raising the standard, individual tax exemption, we will be adding an additional $40 million to Illinois households,” said Lang.

House lawmakers also voted, 81-28, for legislation, Senate Bill 397, to provide tax relief to top Illinois employers, such as the Chicago Mercantile Exchange, Sears, and nearly 30,000 small businesses.

“The business tax relief will keep more than 8,100 jobs in Illinois,” said Lang.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

%d bloggers like this: