SPRINGFIELD, Ill. – While Congress is considering a new tax law that slashes taxes on big businesses and the ultra-wealthy while raising taxes on middle-class families, state Rep. Mike Halpin, D-Rock Island, is calling on Congress to put middle-class families first for a change.
“In order to finance their tax cuts for millionaires and billionaires, the Republican-controlled Congress is proposing changes to the federal tax code that would eliminate a tax deduction many middle-class families in our community use, hitting families with thousands of dollars in new taxes,” said Halpin. “Congress should drop this unfair tax hike and focus on making the ultra-wealthy pay their fair share, so we can provide real relief for those who need it most.”
The plan being considered in Congress would eliminate a credit that allows middle-class families to deduct the cost of state and local taxes, including property taxes, from their federal income tax. At the same time, their plan cuts an estate tax intended to make the ultra-wealthy pay fairly, and slashes tax rates on huge corporations. Halpin supported House Resolution 672, which asks the Illinois congressional delegation to oppose efforts to repeal the state and local tax deduction.
“I find what’s going on in Washington, D.C. to be disturbing to say the least,” said Halpin. “Washington can’t raise taxes on our families to provide handouts to the ultra-wealthy and pretend it’s reform.”