Bill > HJR0018

This resolution urges the State of Illinois to generate $6 billion in new revenue by targeting ultra-wealthy individuals and large corporations through various tax policy changes. Specifically, the resolution recommends raising the corporate income tax, closing corporate tax loopholes, taxing offshore sheltered income, addressing the carried interest loophole, and implementing taxes on data extraction by big tech companies. The proposed revenue would be used to fund critical services including public transit, immigrant services, healthcare access, public school funding, senior home care, child tax credits, direct cash assistance, re-entry employment programs, violence prevention initiatives, and affordable housing opportunities. The resolution highlights Illinois' current tax system as one of the most unequal in the nation, with lower-income households paying a disproportionately high percentage of their income in taxes compared to the top 1%. Additionally, the resolution notes the context of potential federal funding cuts and aims to protect state investments in community services while simultaneously addressing income and wealth inequality in the state.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=18&GAID=18&DocTypeID=HJR&SessionID=114&GA=104