IL HR0692

Recognizes Tax Freedom Day on April 18, 2024, marking the day Americans have earned enough income to pay all federal, state, and local taxes combined.

Notes that Illinois residents paid over $50 billion in state taxes and historically must work 8 or more additional days beyond the national Tax Freedom Day to cover their tax burden.

Acknowledges that in 2019, Americans spent 26 days on payroll taxes, 15 days on sales and excise taxes, 11 days on property taxes, 6 days on income taxes, and 5 days on estate taxes.

Calls on citizens, lawmakers, educators, and government entities to observe this day to promote awareness of taxpayer burden and engage in discussions about fiscal responsibility.

Emphasizes Illinois ranks in the top five states for overall tax burden, with its state Tax Freedom Day occurring in May.