SPRINGFIELD – Lt. Governor Sheila Simon issued the following statement after the Senate Revenue Committee’s unanimous passage of Senate Bill 337, which will increase transparency in government spending. Lt. Governor Simon recently announced plans for the income tax receipt, in order to illustrate where taxpayer money goes and how it fits into the state’s multi-billion dollar budget.
“When you pay your credit card bill, you receive a statement detailing how your money was spent over the course of the month. Taxpayers should be able to see how their money is spent on state programs and services, such as education, pensions and prisons,” Simon said. “I would like to thank Sen. Toi Hutchinson (D-Chicago Heights) for her leadership and the Senate’s Revenue Committee for passing this legislation, and I am committed to giving taxpayers the tools they need to learn more about government spending.”
Simon’s office is working with the Department of Revenue and the Governor’s Office of Management and Budget (GOMB) to design an income tax receipt, which will be introduced before the start of the next tax filing season in January and made available annually. The taxpayer receipt will be produced for the roughly 500,000 residents who file online for free, and those who file by other means will be able to access a webpage. This transparency initiative comes at no cost to the taxpayer.
Click here to view a sample receipt for a taxpayer who pays $1,000 in income taxes to the state.