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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15 WHEREAS, If the estate tax had been repealed in 1996,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.