Bill Text: IL HR0195 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Urges the Illinois Congressional Delegation to join efforts to deliver fair and equitable SALT reform to Illinois.
Spectrum: Partisan Bill (Democrat 19-0)
Status: (Passed) 2021-05-06 - Added Co-Sponsor Rep. Margaret Croke [HR0195 Detail]
Download: Illinois-2021-HR0195-Introduced.html
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| 1 | HOUSE RESOLUTION
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| 2 | WHEREAS, The state and local tax (SALT) deduction allows | ||||||
| 3 | families that pay local property taxes, state and local sales | ||||||
| 4 | taxes, and state income taxes to deduct those taxes from their | ||||||
| 5 | federal income tax; and
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| 6 | WHEREAS, This deduction prevents families from being | ||||||
| 7 | double taxed, once by the federal government and again by the | ||||||
| 8 | state; and
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| 9 | WHEREAS, The state and local tax deduction has broad | ||||||
| 10 | bipartisan support and has been helping Illinoisans since | ||||||
| 11 | 1913; and
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| 12 | WHEREAS, The 2017 Tax Cuts and Jobs Act capped the SALT | ||||||
| 13 | deduction at $10,000; and
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| 14 | WHEREAS, The U.S. Treasury Department estimated that | ||||||
| 15 | almost 11 million Americans would no longer be able to deduct | ||||||
| 16 | over $300 billion in state and local taxes as a result of the | ||||||
| 17 | SALT deduction cap; and
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| 18 | WHEREAS, Under current SALT rules, married couples have | ||||||
| 19 | their SALT deduction cut in half relative to two individual | ||||||
| 20 | filers; and
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| 1 | WHEREAS, U.S. Treasury Secretary Janet Yellen recently | ||||||
| 2 | resolved to work with Congress to ensure that the inequities | ||||||
| 3 | caused by the SALT deduction cap are addressed in a fair and | ||||||
| 4 | responsible way; therefore, be it
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| 5 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | ||||||
| 6 | HUNDRED SECOND GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | ||||||
| 7 | we urge the Illinois Congressional Delegation to join these | ||||||
| 8 | efforts to deliver fair and equitable SALT reform to Illinois; | ||||||
| 9 | and be it further
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| 10 | RESOLVED, That suitable copies of this resolution be | ||||||
| 11 | delivered to each member of the Illinois Congressional | ||||||
| 12 | Delegation.
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