Bill > SR0505

This resolution urges the Governor of Illinois not to decouple the state's tax policy from federal tax changes in H.R. 1 (the Tax Cuts and Jobs Act), which represents a major overhaul of the Internal Revenue Code. The resolution argues that maintaining conformity with federal tax code is crucial for Illinois' economic competitiveness, as decoupling would create unnecessary complexity for taxpayers, potentially raise taxes on businesses, and risk discouraging economic investment in the state. By highlighting that Illinois already has high tax burdens and the third-highest corporate income tax rate in the country, the resolution emphasizes that any tax policy changes could negatively impact business expansion, job creation, and the state's overall economic growth. The document respectfully requests that the Governor continue aligning the state's tax code with the Internal Revenue Code to ensure simplicity, fairness, and competitiveness for all Illinois taxpayers, and to avoid imposing additional financial burdens on job creators.

https://www.ilga.gov/Legislation/BillStatus?DocNum=505&GAID=18&DocTypeID=SR&SessionID=114&GA=104