Illinois Governor Is Trying To Save You Money On Groceries
Inflation continues to climb and it's hard to afford anything right now. If you're part of the middle class, you're paying a lot of taxes and getting no break from the government. The Governor of Illinois is trying to save everyone money on groceries which we all buy.
As one of 13 states with a grocery tax, it feels like the state of Illinois is taking your money at every turn. In his State of the State address, Illinois Governor JB Pritzker announced he wants to be one of many states without a grocery tax.
Illinois residents got a little taste of that feeling a couple of years ago and it could be happening again soon. This time, it would be permanent.
Illinois Governor Is Trying To Save You Money On Food
In this State of the State address back in February, Illinois Governor JB Pritzker announced that he wants to get rid of the 1% grocery tax that is a burden to Illinoisans. "...even though inflation continues to cool off, folks are still feeling the squeeze every week at the grocery store," said Gov. Pritzker. "So, there's one more thing we ought to do. For the good of our state's working families, let's permanently eliminate the grocery tax!"
Inflation from January to February rose by 0.4%, according to J.P. Morgan.
If you buy groceries, and there is a solid chance you do, you know that grocery store items are more expensive. Adding an additional 1% to your bill every time adds up.
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Illinois already has a 6.25% sales tax and municipalities can add up to 4.75 percent in local sales tax, according to AARP. Toss in another 1% grocery tax and it just doesn't seem worth it to buy groceries in Illinois.
The only people worried about this tax elimination are mayors throughout Illinois.
Tax Increases Could Be Coming To Illinois
While getting rid of the 1% grocery tax in Illinois would be great, Gov. Prtizker did outline why there should be around a $900 million tax increase.
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The nearly $900 million to help fill a projected budget deficit while increasing spending. These tax increases would happen for individual and corporate income taxes, state sales taxes, and sports betting excise taxes, according to TaxFoundation.org.
From July 1, 2022, to June 30, 2023, Gov. Pritzer put a hault on the gorcery tax in Illinois. It netted around $400 million for consumers in Illinois.
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