Household Income Up Twice the National Average in Illinois' 15th District
WASHINGTON – Congressman John Shimkus (R, Illinois-15) says Republican policies are helping boost household income in central and southern Illinois.
Since President Trump took office, median household income in Illinois' 15th Congressional District rose from $49,927 in 2016 to $52,472 in 2017 – an increase of $2,600 or 5.2 percent. Nationally, median household income rose 2.6 percent during the same period.
"By virtually every measure the national economy is booming," Shimkus said. "And as more localized data becomes available, it's clearly showing that Republican policies put in place under the Trump Administration are working in the communities I represent."
The inflation-adjusted income data comes from the latest American Community Survey released this month.
Shimkus says he expects the tax cuts enacted last year to continue putting more money in families' pockets.
"Because of all the misinformation out there, some folks are still concerned they’ll be paying more when they file their federal income taxes next year," Shimkus said. "The reality is taxpayers at every income level will get to keep more of their paychecks under our new tax code."
For example, when taxpayers file their 2018 taxes next year:
- A family of four, with two children, earning $62,000 a year will owe $1,728 less than they did in tax year 2017;
- A single mother, with one child, earning $39,000 a year will owe $1,244 less; and
- A retired couple earning $25,000 a year will owe just $100 in federal income taxes ($270 less than they owed for tax year 2017).
Anyone looking to estimate their savings under the Tax Cuts and Jobs Act can use the Tax Foundation's Tax Reform Calculator at taxfoundation.org/2018-tax-reform-calculator