Springfield, IL — On Thursday, State Representative Jennifer Sanalitro (R – Bloomingdale) announced several key tax reform proposals aimed at reigniting the economy, supporting businesses and hardworking families, and halting the exodus of residents and businesses from Illinois.
“Our state – especially my region – is filled with great companies. These businesses provide fantastic products and services to not only the communities of Illinois, but communities across the country as well” said Sanalitro.
However, she expressed concerns about the increasing difficulty of operating businesses in Illinois due to the struggle of finding quality employees and a substantial tax burden on residents.
“Despite being a freshman in the General Assembly, I’ve noticed that Representatives from both sides of the aisle recognize that the tax burden on the average Illinoisan is too great. It prevents us from both creating an environment that attracts new investment while also preventing us from lowering costs for our state’s existing businesses,” stated Sanalitro.
In response, Sanalitro introduced several proposed bills from the Reigniting Illinois Strong Economy working group, designed to lower taxes and foster economic growth:
• HB3467: Sponsored by Rep. Ozinga, the bill relates to Property Taxes & Pensions. It supports school districts with grants to reduce property tax burdens on residents.
• HB3580: Known as the “Restore Our Supply Chains Tax Reform Act,” sponsored by Rep. Wilhour, the bill allows taxpayers to claim depreciation at a federal tax level, incentivizing businesses to bring supply chains back to Illinois.
• HB1459: Sponsored by Leader McCombie, this bill reforms estate taxes, increasing the exclusion amount from $4 million to match the Federal Level of about $12 million.
Additionally, the group is reviewing the Excess Reserve Tax Abatement policy to ensure its fairness and effectiveness.
Sanalitro believes that these reforms are critical to reigniting the Illinois economy. “We all know that the state is losing residents and businesses at a very alarming rate. Sitting idly by and doing nothing is no longer an option.”
“I’m optimistic that these proposals will help create an economic environment that facilitates job creation, attracts investment, supports small businesses, and most importantly… lowers taxes. Let’s make Illinois a place you want to live, not leave,” Sanalitro affirmed.
For more information on these proposed bills, please visit RepSanalitro.com or contact her office at 630-349-0645.
Rep. Sanalitro is the State Representative for House District 48 which includes the communities of Addison, Bensenville, Bloomingdale, Carol Stream, Hanover Park, Itasca, Medinah, Roselle, Schaumburg, and Wood Dale in suburban DuPage and Cook counties.