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| 1 | HOUSE RESOLUTION
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| 2 | WHEREAS, The State of Illinois currently exempts State | ||||||
| 3 | taxation of retirement income; and
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| 4 | WHEREAS, House Joint Resolution Constitutional Amendment | ||||||
| 5 | 1, passed by the 101st General Assembly, put what proponents | ||||||
| 6 | call the "Fair Tax" on the 2020 ballot; this would have allowed | ||||||
| 7 | for graduated income tax rates and could have created an | ||||||
| 8 | avenue for taxation on retirement income; and
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| 9 | WHEREAS, The "Fair Tax" proposal was rejected by the | ||||||
| 10 | residents of Illinois in the 2020 election with 53.27 percent | ||||||
| 11 | of the voters disapproving; and
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| 12 | WHEREAS, Retirees are often least equipped to shoulder the | ||||||
| 13 | burden of additional taxation due to the fact that the vast | ||||||
| 14 | majority live on fixed income; and
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| 15 | WHEREAS, Current inflation levels are already diminishing | ||||||
| 16 | the fixed income upon which retirees in Illinois rely; and
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| 17 | WHEREAS, Retirees already contribute a fair share of | ||||||
| 18 | taxes, whether it be through federal income taxation or other | ||||||
| 19 | state imposed taxes such as sales taxes and property taxes; | ||||||
| 20 | and
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| 1 | WHEREAS, Not taxing retirement income is one of the only | ||||||
| 2 | friendly tax policies Illinois residents currently enjoy; and
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| 3 | WHEREAS, Imposing an income tax on retirement could drive | ||||||
| 4 | residents away from Illinois or deter people from across the | ||||||
| 5 | nation from choosing to spend retirement in Illinois; | ||||||
| 6 | therefore, be it
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| 7 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | ||||||
| 8 | HUNDRED SECOND GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | ||||||
| 9 | we trust the decision Illinoisans made when they rejected the | ||||||
| 10 | path to taxing retirement income by prohibiting the "Fair Tax" | ||||||
| 11 | from becoming enacted in the 2020 election; and be it further
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| 12 | RESOLVED, That we affirm our belief that another ballot | ||||||
| 13 | question or any policy change allowing for the Illinois Income | ||||||
| 14 | Tax Act to potentially tax retirement income should not be | ||||||
| 15 | permitted to pass the Illinois House of Representatives; and | ||||||
| 16 | be it further
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| 17 | RESOLVED, That suitable copies of this resolution be | ||||||
| 18 | delivered to all Illinois constitutional officers, the Speaker | ||||||
| 19 | and Minority Leader of the Illinois House of Representatives, | ||||||
| 20 | and the President and Minority Leader of the Illinois Senate.
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