SPRINGFIELD, Ill. – State Rep. Jonathan Carroll, D-Northbrook, is fighting to protect local taxpayers from the unfair affects of Donald Trump’s tax plan by introducing legislation to restore a key middle-class tax credit that Trump recently capped to finance his tax cut for the ultra-wealthy.
“The families I represent have been targeted by Trump’s tax plan – they are being forced to foot the bill for the ultra-wealthy and big corporations,” Carroll said. “Asking average taxpayers to pay more so the ultra-wealthy can pay less is simply wrong, and my bill corrects that wrong by allowing ordinary taxpayers to receive the tax relief they need.”
In order to provide a massive handout to the ultra-wealthy, Trump’s tax bill capped the State and Local Tax (SALT) deduction to $10,000. Previously, the SALT deduction allowed families to deduct the full cost of property taxes. The average Illinois taxpayer received a $12,500 credit under the SALT deduction.
Carroll’s House Bill 3012 creates a workaround to allow Illinois taxpayers to continue to deduct the full amount of their property taxes. Carroll’s bill gives taxpayers the option of making property tax payments to a charity called the Illinois Excellence Fund, allowing taxpayers to write off these payments as a charitable contribution.
“Illinois’ middle-class families deserve relief, but the Trump tax is a bait and switch, offering real relief only for Trump and his wealthy buddies while leaving us with the bill,” Carroll said. “My legislation puts the needs of families first so they can keep more of their money, helping grow the economy and jobs.”