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Quincy Reporter

Thursday, November 21, 2024

Anderson introduces bill to reduce tax burden for overtime hours: 'This is the least we can do for people struggling'

Anderson

State Sen. Neil Anderson | Senator Neil Anderson/Facebook

State Sen. Neil Anderson | Senator Neil Anderson/Facebook

State Sen. Neil Anderson recently introduced a bill that would reduce the tax burden for workers in the state who work overtime hours.

"People in Illinois are already taxed enough, and we should not punish them for working extra by taking even more of their hard-earned money," Anderson wrote in a March 3 Facebook post.

Anderson shared a statement outlining his commitment to aiding Illinois residents during difficult times.

“This is the least we can do for people struggling to make ends meet and who are putting in extra hours just to be able to feed their families and pay their bills,” Anderson said.

Senate Bill 51 would Amend the Illinois Income Tax Act to give taxpayers the opportunity to lower their state tax burden by allowing them to deduct a portion of their taxes equal to the amount of overtime wages they earned in the current tax year. Wages earned in excess to a taxpayer’s regular monthly or weekly salary would be exempt from the state income tax. 

The bill, if signed into law, would take effect immediately and is currently pending review by the Assignments Committee. If passed, this bill could drastically reduce the state taxes of those who typically work long hours and put in numerous overtime shifts throughout the year. This could be especially beneficial for those on a tight budget, as it would provide them with much-needed financial relief.

Anderson has represented the 47th District in the Illinois Senate since 2015. The district spans a wide range of geographies, including portions and/or all of Adams, Fulton, Hancock, Henderson, Henry, Knox, Mason, McDonough, Menard, Mercer, Peoria, Rock Island, Schuyler, Stark Tazwell and Warren counties. Aside from his important work as a state legislator in Springfield, Anderson is also a firefighter and paramedic who serves the Moline community.

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