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[ House Amendment 001 ] |
92_HR0260 LRB9208001RHrhA 1 HOUSE RESOLUTION 2 WHEREAS, Women and minorities are very often owners of 3 small and medium-sized businesses, and the death tax prevents 4 their children from reaping the rewards of a lifetime trying 5 to make a better life; and 6 WHEREAS, Farmers often face losing their farms because 7 the federal government heavily taxes the estates of people 8 who invested most of their earnings back into their farms and 9 had only a small amount of liquid savings; and 10 WHEREAS, Employees suffer when they lose their jobs 11 because many small and medium-sized businesses are liquidated 12 to pay death taxes and because high capital costs depress the 13 number of new businesses that could offer these employees 14 jobs; and 15 WHEREAS, If the estate tax had been repealed in 1996, 16 over the next nine years the United States economy would have 17 averaged as much as $11 billion per year in extra output, and 18 an average of 145,000 additional new jobs would have been 19 created; and 20 WHEREAS, Having passed the United States House of 21 Representatives by a vote of 279-36, and having passed the 22 United States Senate by a vote of 59-39, elimination of the 23 death tax has wide bipartisan support; therefore, be it 24 RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE 25 NINETY-SECOND GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that 26 we urge our elected representatives in the United States 27 Congress to vote for the repeal of the death tax; and be it 28 further 29 RESOLVED, That a suitable copy of this resolution be 30 presented to each member of the Illinois congressional 31 delegation.