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
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| 1 | HOUSE RESOLUTION | ||||||
| 2 | WHEREAS, The hard working people of Illinois paid over $50 | ||||||
| 3 | billion dollars in tax payments used by the State of Illinois, | ||||||
| 4 | in addition to local and federal taxes; and
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| 5 | WHEREAS, Tax Freedom Day is an important date for the more | ||||||
| 6 | than 340 million U.S. taxpayers and their families who pay | ||||||
| 7 | federal and state taxes every year, because it marks the day | ||||||
| 8 | when Americans as a whole have earned enough to pay their tax | ||||||
| 9 | burden; and
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| 10 | WHEREAS, Tax Freedom Day has been calculated by the | ||||||
| 11 | Taxpayer Federation back to the year 1900, when this day was | ||||||
| 12 | January 22nd, using a methodology that calculates each dollar | ||||||
| 13 | amount of net income paid by using the Department of | ||||||
| 14 | Commerce's Bureau of Economic Analysis and allocations by each | ||||||
| 15 | taxpayer's state of residence; and
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| 16 | WHEREAS, Tax Freedom Day is not only a significant | ||||||
| 17 | symbolic date to recognize the hard work of all Illinoisans | ||||||
| 18 | but also acknowledges the significant amount of taxes that | ||||||
| 19 | come out of a taxpayer's yearly pay check; and
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| 20 | WHEREAS, Tax Freedom Day is an important time for | ||||||
| 21 | citizens, lawmakers, educators, and all other entities who are | ||||||
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| 1 | impacted by taxes to observe this day to begin important | ||||||
| 2 | conversations about fiscal responsibility and to increase | ||||||
| 3 | taxpayer awareness; and
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| 4 | WHEREAS, All federal, State, and local governments should | ||||||
| 5 | keep in mind Tax Freedom Day when making decisions on behalf of | ||||||
| 6 | members of the public to insure collective freedom and | ||||||
| 7 | prosperity; and
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| 8 | WHEREAS, In 2024, it will take until April 18th for most | ||||||
| 9 | Americans to make enough income to pay off all their federal, | ||||||
| 10 | state, and local taxes; this date is 109 days into the year and | ||||||
| 11 | falls after Tax Day on April 15th; and
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| 12 | WHEREAS, Historically, Illinoisans have had to pay taxes | ||||||
| 13 | eight additional days or more to pay off all their federal, | ||||||
| 14 | state, and local taxes; and
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| 15 | WHEREAS, This date continues to show the increasing | ||||||
| 16 | overall tax burden on all taxpayers, as the rate of taxation | ||||||
| 17 | continues to lag behind the economy and inflation; and
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| 18 | WHEREAS, Americans continue to work longer to pay off all | ||||||
| 19 | their taxes; in 2019, it took the average American 26 days to | ||||||
| 20 | pay payroll taxes, 15 days to pay sales and excise taxes, 5 | ||||||
| 21 | days to pay income taxes, 11 days to pay property taxes, and 6 | ||||||
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| 1 | days to pay estate taxes; and
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| 2 | WHEREAS, Illinois ranks in the top five states in terms of | ||||||
| 3 | tax burdens; with Illinois Tax Freedom Day coming in May, it is | ||||||
| 4 | beneficial to observe the federal Tax Freedom Day so the | ||||||
| 5 | people of Illinois can reflect on their hard work and | ||||||
| 6 | dedication to pay their share of the collected government | ||||||
| 7 | budgets; therefore, be it
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