Yingling Opposes Retirement Income Tax

For Immediate Release:

For More Information:

December 16, 2015

State Rep. Sam Yingling

847-231-6262

repsamyingling@gmail.com

www.repsamyingling.com

Facebook/RepSamYingling

SPRINGFIELD, Ill. – In an effort to protect the financial stability of retired seniors, state Rep. Sam Yingling, D- Grayslake, is co-sponsoring a resolution that opposes the taxation of retirement income.

“After a lifetime of service, seniors deserve to live out their retirements in peace and with as much financial security as possible,” Yingling said. “Taxing retirement income is a low blow, one that will be detrimental to many of our older residents.”

There are many who believe Illinois can solve its financial woes through the taxation of seniors, and House Resolution 890 is a bipartisan effort to oppose that proposal. The resolution argues that the Illinois Income Tax Act should not be amended to tax retirement income, as this will inevitably drive residents out of the state and compromise the health, wellness and security of older taxpayers.

“We want seniors to stay here after they retire,” Yingling insisted. “Slapping a tax on retirement income will push people away from Illinois, and in addition, will deter others from settling here after they retire. We all know that Illinois is in a financially difficult situation right now, but that doesn’t mean that retirees should be taking the hit. We cannot solve our economic problems by taking money from those who may need it the most, and this resolution is an effort to make sure that doesn’t happen.”

For more information on this topic, please contact Yingling’s constituent service office at (847) 231 6262.

###