- Published: Tuesday, April 19, 2022 11:18 AM
CHICAGO – As Illinois continues to improve state finances, working families can expect to see more money in their pocket, thanks to support from State Senator Cristina Castro (D-Elgin) for the Fiscal Year 2023 budget and tax relief plan, which were signed into law Tuesday.
“Illinois taxpayers have been fed up with our state’s poor credit rating and financial stress for years,” Castro said. “Now, our state’s credit ratings are continuously improving and important social services are given the boost they need to provide for all Illinoisans.”
The FY 23 budget builds upon the responsible spending decisions over the last few years—allowing Illinois to make a $500 investment into the pension system and set aside $1 billion to the state’s Rainy Day Fund to support the state through economic challenges.