| 1 | 1 | | 25 LC 112 2689 |
|---|
| 2 | 2 | | House Resolution 30 |
|---|
| 3 | 3 | | By: Representatives Clark of the 100 |
|---|
| 4 | 4 | | th |
|---|
| 5 | 5 | | , Gaines of the 120 |
|---|
| 6 | 6 | | th |
|---|
| 7 | 7 | | , Stephens of the 164 |
|---|
| 8 | 8 | | th |
|---|
| 9 | 9 | | , Reeves of |
|---|
| 10 | 10 | | the 99 |
|---|
| 11 | 11 | | th |
|---|
| 12 | 12 | | , Hilton of the 48 |
|---|
| 13 | 13 | | th |
|---|
| 14 | 14 | | , and others |
|---|
| 15 | 15 | | A RESOLUTION |
|---|
| 16 | 16 | | Expressing support for the permanent extension of the Tax Cuts and Jobs Act of 2017; and |
|---|
| 17 | 17 | | 1 |
|---|
| 18 | 18 | | for other purposes.2 |
|---|
| 19 | 19 | | WHEREAS, prior to government-mandated economic shutdowns during the COVID-193 |
|---|
| 20 | 20 | | pandemic, the Tax Cuts and Jobs Act of 2017 spurred steady economic expansion and4 |
|---|
| 21 | 21 | | allowed the spirit of entrepreneurship to flourish while creating new jobs and opportunities5 |
|---|
| 22 | 22 | | for millions of Americans; and6 |
|---|
| 23 | 23 | | WHEREAS, the tax cuts of 2017 resulted in a $1.5 trillion net tax cut and were followed by7 |
|---|
| 24 | 24 | | historically low unemployment rates, an increase in business investment, and a $6,0008 |
|---|
| 25 | 25 | | increase in real median household income over two years, including scores of raises and9 |
|---|
| 26 | 26 | | bonuses for workers immediately after the 2017 tax cuts were adopted; and10 |
|---|
| 27 | 27 | | WHEREAS, more than 100 million American taxpayers from all income groups, but11 |
|---|
| 28 | 28 | | especially middle and working class American taxpayers, have enjoyed real tax relief due to12 |
|---|
| 29 | 29 | | the Tax Cuts and Jobs Act of 2017; and13 |
|---|
| 30 | 30 | | WHEREAS, twenty three provisions of the 2017 tax cuts directly relating to individual14 |
|---|
| 31 | 31 | | income taxes, such as the reductions in personal income tax rates, the near doubling of the15 |
|---|
| 32 | 32 | | H. R. 30 |
|---|
| 33 | 33 | | - 1 - 25 LC 112 2689 |
|---|
| 34 | 34 | | standard deduction, and the substantial reduction of the hated Alternative Minimum Tax |
|---|
| 35 | 35 | | 16 |
|---|
| 36 | 36 | | (AMT), will expire after December 31, 2025; and17 |
|---|
| 37 | 37 | | WHEREAS, the 2017 tax cuts reduced federal tax rates for households across every income18 |
|---|
| 38 | 38 | | level, and this relief resulted in a tax cut of more than $1,500 for the average middle-income19 |
|---|
| 39 | 39 | | earner; and20 |
|---|
| 40 | 40 | | WHEREAS, prior to the 2017 tax cuts, the top corporate income tax rate in the United States21 |
|---|
| 41 | 41 | | was 35 percent, the highest among all nations in the Organization for Economic Co-operation22 |
|---|
| 42 | 42 | | and Development (OECD); and23 |
|---|
| 43 | 43 | | WHEREAS, the 2017 tax cuts reduced the business tax rate from 35 percent to 21 percent,24 |
|---|
| 44 | 44 | | bringing the United States back to average among OECD member nations and dramatically25 |
|---|
| 45 | 45 | | enhancing American competitiveness; and26 |
|---|
| 46 | 46 | | WHEREAS, the 2017 tax cuts set an annual cap of $10,000 on the state and local tax (SALT)27 |
|---|
| 47 | 47 | | deduction, thereby broadening the tax base at the federal level and in many states, which28 |
|---|
| 48 | 48 | | caused state level budget surpluses and resulted in many states offering substantial tax relief;29 |
|---|
| 49 | 49 | | and30 |
|---|
| 50 | 50 | | WHEREAS, if the current $10,000 cap on the SALT deduction is allowed to expire after31 |
|---|
| 51 | 51 | | December 31, 2025, the federal tax base will be narrowed; and32 |
|---|
| 52 | 52 | | WHEREAS, returning to an unlimited SALT deduction would be an incentive for many33 |
|---|
| 53 | 53 | | states to once again implement higher taxes and spend at higher levels; and34 |
|---|
| 54 | 54 | | H. R. 30 |
|---|
| 55 | 55 | | - 2 - 25 LC 112 2689 |
|---|
| 56 | 56 | | WHEREAS, a majority of Americans support making the 2017 tax cuts permanent; and |
|---|
| 57 | 57 | | 35 |
|---|
| 58 | 58 | | WHEREAS, allowing the Tax Cuts and Jobs Act of 2017 to expire would result in a massive36 |
|---|
| 59 | 59 | | tax increase on hardworking American taxpayers, a significant decline in American37 |
|---|
| 60 | 60 | | competitiveness, fewer jobs, reduced wage income for workers, and higher prices.38 |
|---|
| 61 | 61 | | NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES that39 |
|---|
| 62 | 62 | | the members of this body express their support for the permanent extension of the Tax Cuts40 |
|---|
| 63 | 63 | | and Jobs Act of 2017 with commensurate federal spending cuts to avoid increasing the41 |
|---|
| 64 | 64 | | United States' debt burden.42 |
|---|
| 65 | 65 | | BE IT FURTHER RESOLVED that the Clerk of the House of Representatives is authorized43 |
|---|
| 66 | 66 | | and directed to make appropriate copies of this resolution available for distribution to the44 |
|---|
| 67 | 67 | | public and the press.45 |
|---|
| 68 | 68 | | H. R. 30 |
|---|
| 69 | 69 | | - 3 - |
|---|