Legislation would expand earned income tax credit and create child tax credit

There is a push in Springfield to cut taxes for low income families in Illinois.  The measures could expand the Earned Income Tax credit and create a Child Tax Credit which sponsors say will give nearly 5 million Illinoisans more cash at tax time.  Representative Carol Ammons is sponsoring the House version of the bills.

Allison Flanagan with the Center for Tax and Budget Accountability says the tax credits would not cost the state much in terms of lost revenue.

Flanagan adds that the tax credits are refundable because a taxpayer who qualifies to receive it gets the full dollar value of the credit, even if that dollar exceeds the income tax liability the taxpayer owes.