Under a proposal announced Wednesday by State Senator Omar Aquino and State Representative Marcus C. Evans, Jr., working parents in Illinois earning the median income or less could soon have the option to claim a state-level child tax credit on their state income taxes.

“The Child Tax Credit I am proposing this year would put money back in working-class parents’ pockets,” said Aquino (D-Chicago). “That little bit of extra change helps families stay afloat, provide a good education for their children, and re-invest that money right back into our local economy. It’s why studies show that just this investment in our families would pay dividends, by creating a $1 billion surplus in our economy.”

Senate Bill 3329 would create a state-level child tax credit for eligible low- and middle-income families. Families would receive a $300 tax credit for each child under the age of 17. The proposal would benefit joint filers earning less than $75,000 and single filers earning less than $50,000. If passed, Illinois would become the 15^th state to enact a state-level child tax credit.

Analyses of the 2021 expansion of the federal child tax credit found that the benefit reached the most working families in history, including 12 million new families for the first time. The expansion is credited with reducing child poverty rates by half, reducing poverty among Hispanic children by 43%, benefiting five million children in active-duty and veteran households, and reaching over 230,000 Puerto Rican families — eight times more than the previous year.

Senate Bill 3329 awaits discussion in the spring legislative session.