Illinois quick hits: Johnson noncommittal on testifying before Congress; State officials urge taxpayers to use tax credits if eligible;
Johnson noncommittal on testifying before Congress
Chicago Mayor Brandon Johnson continues to be noncommittal about testifying before a congressional committee regarding the city’s Sanctuary Law. A week ago, the House Oversight Committee sent a letter to Johnson, requesting he appear in-person and testify about Chicago’s Welcoming City Ordinance, which the committee labeled as a “misguided policy.” The committee also demanded copies of communications last month between city officials and various agencies about the law.
State officials urge taxpayers to use tax credits if eligible
The Illinois Department of Revenue is encouraging eligible Illinoisans to take advantage of savings offered by tax credits when filing their 2024 income tax returns this year. The Illinois Earned Income Tax Credit is a benefit for working people with low to moderate income. The Illinois Child Tax Credit is a new tax credit for the 2024 tax year for taxpayers who qualify for the Illinois Earned Income Tax Credit and have at least one child that is their dependent and under the age of 12 years old.
Chicago residents get low marks for budgeting
A new study that ranks U.S. cities’ residents on their budgeting efforts gives Chicago a poor score. The personal finance website WalletHub compared more than 180 cities across 12 key metrics, ranging from the average credit score to debt-to-income ratios to foreclosure rates. Chicagoans ranked 95th in the country, receiving poor marks for foreclosure rate and credit utilization percentage. According to the study, the city with the best budgeters is Seattle, Washington.