SPRINGFIELD – State Senator Meg Loughran Cappel (D-Shorewood) is pleased with the Fiscal Year 2023 budget and tax relief plan, which passed the Senate Saturday. The budget prioritizes working families and provides them with relief following two years of financial distress caused by the COVID-19 pandemic.

 “As families prepare to send their children back to school this fall, more than 95% of taxpayers will receive a one-time tax refund,” Loughran Cappel said. “This will give parents relief knowing they’ll be receiving a check to help them with the associated costs.”

This relief plan will also help families with back-to-school shopping by creating a state sales tax holiday on school supplies and clothing from Aug. 5 to Aug. 14 of 2022. Additionally, it gives teachers a tax credit of up to $500 for supplies bought for their classrooms.

“As a former educator, and more importantly, a mother, I know how quickly school supplies can add up, especially for families with multiple children,” Loughran Cappel said. “The sales tax pause on school supplies will benefit both teachers and families as they purchase the items needed to best set children up for success.”

The budget also includes $1.2 billion for long-term fiscal stability as well as funding for violence prevention initiatives. The budget will fund state government for Fiscal Year 2023, beginning July 1, if approved by the governor.