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| | HR0031 | | LRB101 04034 ALS 49042 r |
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1 | | HOUSE RESOLUTION
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2 | | WHEREAS, Illinois' income tax has been levied at a |
3 | | non-graduated rate since its inception in 1969; and
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4 | | WHEREAS, The current flat rate structure is a commitment |
5 | | from the Constitution of the State of Illinois; and
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6 | | WHEREAS, Illinois' current flat tax rate provides a more |
7 | | predictable, sustainable, and enticing climate for businesses |
8 | | and individuals alike; and
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9 | | WHEREAS, A graduated income tax is unresponsive to a modern |
10 | | economy, contributing to slower economic growth, less |
11 | | entrepreneurship, and fewer new jobs; and
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12 | | WHEREAS, States with lower tax burdens, lower marginal tax |
13 | | rates, and less progressivity have more robust economies, with |
14 | | strong incentives to live, work, and start new businesses; and
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15 | | WHEREAS, A graduated income tax creates an ever-increasing |
16 | | disincentive for work at each "step" in the marginal tax rate; |
17 | | and |
18 | | WHEREAS, Sound tax policy should reward work effort, |
19 | | saving, investment, risk-taking, and entrepreneurship to |