IL Senate GOP propose tax credits to address rising preschool, childcare costs

SPRINGFIELD, Ill. (WAND) — Illinois Senate Republicans hope to provide financial relief for working families with young children.

The federal government recommends that families should pay 7% or less of their annual income on childcare. Although, most Illinois families pay more than 13% of their annual income on preschool.

Sen. Sue Rezin (R-Morris) told reporters Thursday that she wants Illinois families with children between the ages of 3 and 5 who attend preschool programs to receive an early childhood education tax credit of up to $1,500 per child.

"While there are various credits to help parents cover costs for K-12 students, there is nothing for parents of pre-K aged students," Rezin said. "It's a significant gap in the support we provide to parents."

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Senate Republicans are also calling for a tax credit to help families paying for childcare services. Qualifying families would receive a state tax credit equal to 25% of the current federal childcare tax credit for each of their children.

Early childhood education — Rep. Joyce Mason (D-Gurnee) said Thursday the commission may give preference to applicants who receive scholarships during the prior academic year or people with significant financial need.

Sen. Jil Tracy (R-Quincy) said she hopes her plan will gain bipartisan support to help many Illinoisans struggling to keep up with the state's high cost of living. Tracy noted that the tax credit of up to $500 per child could also help more people get back to work.

"If we want to grow our workforce in Illinois, we must grow the opportunities for quality, affordable and accessible daycare," Tracy said.