Illinois lawmakers propose child tax credit for low- and middle-income families

CHICAGO (CBS) -- Lawmakers in Springfield are hoping a proposed child tax credit can help working families.

Under legislation recently introduced to the Illinois General Assembly, low- and middle-income families would receive a $700 income tax credit for each child under age 17.

Joint filers earning less than $75,000 and single filers earning less than $50,000 would be eligible.

"Working parents are struggling worse than ever before. It is time for the state to create a permanent Child Tax Credit that puts money back into the pockets of parents in Illinois, so that parents can take care of their children and communities can begin to recover," said Illinois State Sen. Mike Simmons (D-Chicago), one of the sponsors of the proposed tax credit.

No hearings have yet been scheduled for the proposed legislation.