Bill Text: IL HR0692 | 2023-2024 | 103rd General Assembly | Introduced


Bill Title: Declares April 18, 2024 as Tax Freedom Day.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-06-29 - Rule 19(b) / Re-referred to Rules Committee [HR0692 Detail]

Download: Illinois-2023-HR0692-Introduced.html

HR0692LRB103 40248 MST 72212 r
1
HOUSE RESOLUTION
2 WHEREAS, The hard working people of Illinois paid over $50
3billion dollars in tax payments used by the State of Illinois,
4in addition to local and federal taxes; and
5 WHEREAS, Tax Freedom Day is an important date for the more
6than 340 million U.S. taxpayers and their families who pay
7federal and state taxes every year, because it marks the day
8when Americans as a whole have earned enough to pay their tax
9burden; and
10 WHEREAS, Tax Freedom Day has been calculated by the
11Taxpayer Federation back to the year 1900, when this day was
12January 22nd, using a methodology that calculates each dollar
13amount of net income paid by using the Department of
14Commerce's Bureau of Economic Analysis and allocations by each
15taxpayer's state of residence; and
16 WHEREAS, Tax Freedom Day is not only a significant
17symbolic date to recognize the hard work of all Illinoisans
18but also acknowledges the significant amount of taxes that
19come out of a taxpayer's yearly pay check; and
20 WHEREAS, Tax Freedom Day is an important time for
21citizens, lawmakers, educators, and all other entities who are

HR0692- 2 -LRB103 40248 MST 72212 r
1impacted by taxes to observe this day to begin important
2conversations about fiscal responsibility and to increase
3taxpayer awareness; and
4 WHEREAS, All federal, State, and local governments should
5keep in mind Tax Freedom Day when making decisions on behalf of
6members of the public to insure collective freedom and
7prosperity; and
8 WHEREAS, In 2024, it will take until April 18th for most
9Americans to make enough income to pay off all their federal,
10state, and local taxes; this date is 109 days into the year and
11falls after Tax Day on April 15th; and
12 WHEREAS, Historically, Illinoisans have had to pay taxes
13eight additional days or more to pay off all their federal,
14state, and local taxes; and
15 WHEREAS, This date continues to show the increasing
16overall tax burden on all taxpayers, as the rate of taxation
17continues to lag behind the economy and inflation; and
18 WHEREAS, Americans continue to work longer to pay off all
19their taxes; in 2019, it took the average American 26 days to
20pay payroll taxes, 15 days to pay sales and excise taxes, 5
21days to pay income taxes, 11 days to pay property taxes, and 6

HR0692- 3 -LRB103 40248 MST 72212 r
1days to pay estate taxes; and
2 WHEREAS, Illinois ranks in the top five states in terms of
3tax burdens; with Illinois Tax Freedom Day coming in May, it is
4beneficial to observe the federal Tax Freedom Day so the
5people of Illinois can reflect on their hard work and
6dedication to pay their share of the collected government
7budgets; therefore, be it
feedback