SR1551LRB099 20806 GRL 45515 r

1
SENATE RESOLUTION

 
2    WHEREAS, The State of Illinois exempts State taxation of
3retirement income; and
 
4    WHEREAS, Retirees living on a fixed income have limited
5ability to rejoin the workforce, face high health care costs,
6and have little ability to save money; and
 
7    WHEREAS, Retirees could not have anticipated in their
8lifetime of planning that their retirement income would
9suddenly be taxed by the State, forcing them to cut already
10strained household budgets; and
 
11    WHEREAS, Retirees do pay many other taxes, such as federal
12income taxes, property taxes, and sales taxes; and
 
13    WHEREAS, The exclusion of taxing retirement income
14encourages residents to remain living throughout their
15retirement in Illinois and encourages newly retired Americans
16to relocate to the State; therefore, be it
 
17    RESOLVED, BY THE SENATE OF THE NINETY-NINTH GENERAL
18ASSEMBLY OF THE STATE OF ILLINOIS, that we state our belief
19that the Illinois Income Tax Act should not be amended to
20permit taxing retirement income; and be it further
 

 

 

SR1551- 2 -LRB099 20806 GRL 45515 r

1    RESOLVED, That suitable copies of this resolution be
2delivered to all Illinois constitutional officers, the Speaker
3and Minority Leader of the Illinois House of Representatives,
4and the President and Minority Leader of the Illinois Senate.