New financial help could soon be available for parents thanks to legislation designed to provide financial relief to families with children enrolled in daycare and pre-K programs.
State Senators Sue Rezin (R-Morris) and Jil Tracy (R-Quincy) have filed legislation to enact new state tax credits to help offset some of the costs that parents incur for both preschool and childcare. The two Senators called for action on their legislation at a State Capitol press conference on March 21.
“Any parent or guardian of a young child will tell you that one of the greatest financial hardships that growing families face is the lack of access to affordable, high-quality preschool and childcare,” said Sen. Rezin. “It is time for our state to ease some of that financial burden that has fallen upon parents and ensure that every child has a chance to access much-needed preschool education.”
Sen. Rezin’s Senate Bill 2717 would allow parents or guardians of one or more children between the ages of 3 and 5 who attend an eligible preschool program in Illinois to qualify for a tax credit equal to 100 percent of the expenses they incur to send their children to that preschool program, up to $1,500 per child.
Sen. Tracy is sponsoring Senate Bill 3104, which would give parents a state tax credit for each qualifying child on their income taxes to help provide financial relief for those paying for childcare services. Under the proposal, qualifying families would receive a state tax credit equal to 25 percent of the current federal childcare tax credit for each child.
“Families throughout Illinois are finding it difficult to make ends meet as high inflation and other economic pressures impact their bottom line. Republican Senators have long been advocates for different plans to lessen the tax burden on Illinoisans,” Sen. Tracy said. “Today, we are renewing our call to provide much-needed relief for Illinoisans who are struggling to keep up with the state’s high cost of living.”
As the spring legislative session continues, Senate Republicans hope to see bipartisan progress on these critical issues to improve the lives of people of all ages and in all stages of life who call Illinois home.
Senator Rezin says it is important to support growing families and help provide children and their parents with the best opportunities possible.