093_HR0066

 
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 1                          HOUSE RESOLUTION

 2        WHEREAS, Under tax relief legislation passed in 2001, the
 3    Death  Tax  was  temporarily  phased  out,  not   permanently
 4    eliminated; and

 5        WHEREAS,  Women  and  minorities are very often owners of
 6    small and medium-sized businesses, and the death tax prevents
 7    their children from reaping the rewards of a lifetime  trying
 8    to make a better life; and

 9        WHEREAS,  Farmers  and  other  small businesses will face
10    losing their farms and businesses if the  federal  government
11    resumes the heavy taxation of citizens at death; and

12        WHEREAS,  Employees suffer when they lose their jobs when
13    small and medium-sized businesses are liquidated to pay death
14    taxes and because high capital costs depress  the  number  of
15    new businesses that could offer them a job; and

16        WHEREAS,  If  the  estate  tax had been repealed in 1996,
17    over the next 9 years the U.S. economy would have averaged as
18    much as $11 billion per year in extra output, and an  average
19    of 145,000 additional new jobs would have been created; and

20        WHEREAS, The persistent uncertainty created by the sunset
21    provision  prevents families and small businesses from taking
22    advantage of the temporary repeal; and

23        WHEREAS, Having repeatedly passed both the U.S. House  of
24    Representatives and the U.S. Senate, elimination of the death
25    tax has proven to hold wide bipartisan support; therefore, be
26    it

27        RESOLVED,   BY   THE  HOUSE  OF  REPRESENTATIVES  OF  THE
28    NINETY-THIRD GENERAL ASSEMBLY OF THE STATE OF ILLINOIS,  that
29    the  House  of  Representatives  of  the  State  of  Illinois
30    requests  our  elected  Representatives  and  Senators in the
 
                            -2-      LRB093 03981 MKM 04020 r
 1    United States Congress to support, work to pass and vote  for
 2    the  immediate  and permanent repeal of the death tax; and be
 3    it further

 4        RESOLVED, That a suitable  copy  of  this  resolution  be
 5    presented  to the elected Representatives and Senators of the
 6    State of Illinois in the United States Congress.