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Article updated: 1/29/2014 12:59 PM

Quinn wants to double earned income tax credit

Gov. Pat Quinn wants to again double an income tax credit aimed at helping poor Illinois families keep more of the money they earn.

Gov. Pat Quinn wants to again double an income tax credit aimed at helping poor Illinois families keep more of the money they earn.

 

Associated Press

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By Associated Press

SPRINGFIELD -- Gov. Pat Quinn wants to again double an income tax credit aimed at helping poor Illinois families keep more of the money they earn.

Quinn spoke Wednesday during the annual State of the State address. He says the tax credit should be increased over five years.

The state last increased the credit in 2011 as part of an incentive package aimed at keeping big businesses in the state. At the time, the state's rate for the credit was among the lowest in the nation. The legislation increased it over two years from its original 5 percent to 10 percent by this year.

State officials said it would eventually translate to an average of about $100 a year per family.

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