093_HR0067

 
                                     LRB093 03982 MKM 04021 r

 1                          HOUSE RESOLUTION

 2        WHEREAS, In 1969 the United States Congress  created  the
 3    Alternative  Minimum  Tax  to  prevent  wealthy Americans and
 4    corporations from using  otherwise  available  deductions  to
 5    reduce their income tax liability; and

 6        WHEREAS,  Today the Alternative Minimum Tax has placed an
 7    onerous  burden  on   working   middle-class   families   and
 8    productive companies; and

 9        WHEREAS,  Any  family  making  over $49,000 and deducting
10    their state and local taxes, mortgage interest, children, and
11    college education will be subject to the Alternative  Minimum
12    Tax; and

13        WHEREAS,  The  Corporate  Alternative Minimum Tax targets
14    capital intensive industries  that  create  jobs,  raise  the
15    incomes  of workers, and increases the standard of living for
16    all Americans; and

17        WHEREAS, Corporations become subject to  the  Alternative
18    Minimum  Tax  during  recessions  which forces layoffs of the
19    employees; and

20        WHEREAS, It is important to protect working middle-income
21    families and productive companies from tax burdens that  only
22    reduce  the  possibility  of  economic  prosperity instead of
23    encourage it; therefore, be it

24        RESOLVED,  BY  THE  HOUSE  OF  REPRESENTATIVES   OF   THE
25    NINETY-THIRD  GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
26    the  House  of  Representatives  of  the  State  of  Illinois
27    requests our elected  Representatives  and  Senators  in  the
28    United  States  Congress to vote to repeal the individual and
29    permanent Alternative Minimum Tax; and be it further

30        RESOLVED, That a suitable  copy  of  this  resolution  be
 
                            -2-      LRB093 03982 MKM 04021 r
 1    presented  to the elected Representatives and Senators of the
 2    State of Illinois in the United States Congress.