State policies need to change if we are going to bring down the cost of living
Everywhere you go in Illinois you hear the same refrain: everything is more expensive than it used to be. Groceries, electric bills, you name it, it seems that the price of everything is going up. Part of this rise can be attributed to bad economic policies at the state level. We are going to need to change these policies in the upcoming spring session if we are going to bring costs down.
There seems to be some bipartisan recognition that there is a problem. House Speaker Chris Welch spoke at the City Club of Chicago and acknowledged the need to bring down the cost of living. The question before the House of Representatives is: will we see any real action?
Since last May, Democrat policies in Springfield have driven up the cost of living through tax hikes and other expensive decisions. This year’s state budget – the largest in Illinois history – spends $55 billion and included more than $700 million in new taxes. A green energy bill which was pushed through last year will hit Illinoisans with an $8 million increase in utility rates.
Our cost-of-living problem is, in part, a cost-of-government problem. For years bad policies have been making everything more expensive and putting the squeeze on Illinois families, farms and small businesses. This is something that has to change this year if we are going to talk seriously about affordability.
This spring, House Republicans are determined to lower taxes, lower the cost of living, bring down energy costs and rein in out-of-control government growth and spending. Speaker Welch’s comments in Chicago are an encouraging sign. I hope he will take us up on our ideas to make life more affordable in Illinois.
Tax relief for farmers
Illinois tax law contains a number of exceptions and exemptions for various purposes. This year I am sponsoring a bill, HB 4293, to expand an exemption meant to help our farmers who are engaged in production agriculture.
Several Illinois tax laws, including the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers’ Occupation Tax Act include exemptions for certain expenses tied to agriculture generally and production agriculture specifically. But the law left out some important tasks involved in production agriculture. My bill would add to the definition of “production agriculture” to include scouting crops, inspecting or repairing fences used to raise livestock, tile mapping, and herding or inspecting livestock.
This change would help many of our farmers save on their tax bill starting in 2027. The bill was filed earlier this month and will have to go through committee before reaching the full House for consideration.