Illinois Makes Cuts to Grocery and Gas Taxes

Illinois’ legislative session is resulting in tax cuts across grocery and fuel taxes. The governor signed the 2023 fiscal budget ($46 billion) with hopes of having $1.8 billion in tax relief for families. The effects of inflation are felt most strongly in groceries and gas, so the budget suspends the grocery tax for a year and freezes the gas tax for six months. A grocery tax replacement will be given to local governments. Due to the pandemic and the inflation that followed, both democrats and republicans are in general agreement on this decision. (Illinois Governor’s Office of Management and Budget, General Funds Financial Walk Down, 2023) 

Posted on April 25, 2022