HR0195 102ND GENERAL ASSEMBLY

HR0195 LRB102 17987 MST 24780 r

HOUSE RESOLUTION

WHEREAS, The state and local tax (SALT) deduction allows families that pay local property taxes, state and local sales taxes, and state income taxes to deduct those taxes from their federal income tax; and

WHEREAS, This deduction prevents families from being double taxed, once by the federal government and again by the state; and

WHEREAS, The state and local tax deduction has broad bipartisan support and has been helping Illinoisans since 1913; and

WHEREAS, The 2017 Tax Cuts and Jobs Act capped the SALT deduction at $10,000; and

WHEREAS, The U.S. Treasury Department estimated that almost 11 million Americans would no longer be able to deduct over $300 billion in state and local taxes as a result of the SALT deduction cap; and

WHEREAS, Under current SALT rules, married couples have their SALT deduction cut in half relative to two individual filers; and

WHEREAS, U.S. Treasury Secretary Janet Yellen recently resolved to work with Congress to ensure that the inequities caused by the SALT deduction cap are addressed in a fair and responsible way; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE HUNDRED SECOND GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we urge the Illinois Congressional Delegation to join these efforts to deliver fair and equitable SALT reform to Illinois; and be it further

RESOLVED, That suitable copies of this resolution be delivered to each member of the Illinois Congressional Delegation.