Illinois State Representative Mike Coffey has sponsored a series of bills in the Statehouse aimed at reducing taxes for residents of the state. The bills cover a range of tax-related issues, including the repeal of the death tax, the elimination of sales tax on motor fuel, and the return of surplus taxes to taxpayers.
One of the bills sponsored by Representative Coffey would repeal the death tax, which is a tax on the transfer of assets upon a person's death. This tax is often seen as burdensome by those who feel that it unfairly targets families who have worked hard to accumulate wealth over their lifetimes. The repeal of the death tax would provide much-needed relief to Illinois residents who are concerned about the future of their estates.
Other bills that Coffey has sponsored would alleviate tax burdens by eliminating sales tax on motor fuel, returning surplus taxes to taxpayers, stoping the graduated income tax, continuing exemption of taxes on retirement income, and limiting the state budget growth
“I haven’t forgotten that the state budget is funded by taxpayers which is why I’m backing legislation that keeps Illinois families at the top of mind when it comes to taxes,” said Coffey. “With days left in the legislative session, I hope the House of Representatives will take up these bills that would mean lower taxes for Illinois families”
More information on each of these bills can be found at HB 3195, HB 2592, HB 3169, HR 130, HR 24, and HB 2986.
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