IABG advocates for policy solutions that close the racial wealth gap, expand savings opportunities, and protect Illinoisans from predatory financial practices. Here’s an updated on what we are working on in Springfield this legislative session:

SB2804: The Wage Assignment & Consumer Protections Bill

SB2804, sponsored by Senator Daniel Biss, addresses a debt collection practice called wage assignments. Wage assignments are a way that non-traditional lenders, such as payday lenders, access a borrower’s wages when they default on a loan. Unlike a wage garnishment, a wage assignment does not go through the courts. Instead, the lender sends a notice directly to the borrower, letting them know that they will be taking a portion of their wages.

The Wage Assignment & Consumer Protections Bill will create a clearer wage assignment notice in Illinois – ensuring that borrowers know their rights under federal law to stop a wage assignment at any time, and for any reason.

Take Action: We are working to build a coalition of Illinois organizations supporting these changes. If your organization is able to sign-on in support, please sign-on online or send us an email with your organization’s name.

SB2465: Prison Debt Reform

Illinois law allows the State to sue formerly incarcerated individuals – forcing people to pay for their own incarceration.

SB2465 will end unfair lawsuits by repealing the provision allowing the Department of Corrections to seek reimbursement for the cost of a person’s incarceration. Check out our fact sheet to learn more. You can also read more about the bill in the Chicago Tribune.

Take Action: If your organization would like to sign-on in support, sign-on online.

SB2236: Student Loans as a Barrier to Employment

Many Illinoisans are struggling to pay off their student loans. Yet, current Illinois law makes it harder for Illinoisans to maintain their employment if they default on student loan debts.

IABG is supporting SB2236, sponsored by Senator Scott Bennett. The bill prevents a person from losing their professional license when they default on a student loan guaranteed by the Illinois Student Assistance Commission.

Defending Consumer Protections:

IABG continues to track legislation that aims to strip families and communities of wealth, weaken existing small dollar lending laws, and make it hard for Illinoisans to build and maintain strong financial footing.

If you have questions about any of our legislative advocacy this session or would like to get more engaged, send us an email!

Over the next two months, the Center for Economic Progress (CEP) will help nearly 20,000 Illinoisans file their taxes. CEP is currently running 15 free Volunteer Income Tax Preparation (VITA) sites in Chicago, the suburbs, and Springfield, where hundreds of trained volunteers help people complete their tax return and claim vital tax credits.

The Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) are critical federal tax credits for working families, and they were expanded permanently last year. In 2012, the EITC put approximately $2.5 billion dollars back into the Illinois economy. On top of the federal tax credits, hard working families can also claim Illinois state EITC. CEP plays a big role helping Illinois families access these tax credits.

As of mid-February, CEP has already completed nearly 5,000 tax returns, and helped bring more than $10.5 million back into the pockets of low-income workers.

Want to know more about their tax prep sites?

Find a free tax prep site near you, or file your taxes online. Please spread the word about CEP’s tax help using their flyers in English and Spanish!

Outside of Chicago?

You can find a free tax prep site near you here.

Need Resources to Help Educate Your Community About Tax Credits?

The Center on Budget & Policy Priorities leads the “Get It Back Campaign.” They have a ton of great resources to help you educate your community about important tax credits for working families.

The Consumer Financial Protection Bureau also has some helpful tax-time tips to help you make the most of your tax refund.

CEP’s Financial Coaching: The Progress Program

CEP’s work doesn’t end when the tax season wraps up. They help their clients become and stay financially secure year-round. CEP is launching their fourth cycle of their Progress Program, a free 3-month financial coaching program that helps clients achieve personalized financial goals. The program includes biweekly meetings with a volunteer financial coach, and offers a chance to win over $1,000 in prizes for people who achieve their savings and/or debt reduction goals.

Last year, 59 participants graduated from the program. They saved a total of $14,522 and reduced their debt by $18,083.

Volunteer with CEP

They have just begun recruiting volunteers to be financial coaches in this Progress Program cycle! If you are interested, you can apply to be a volunteer here.

Learn more about the Center for Economic Progress and their work.