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H.C.R. 5 Enrolled
LONG TITLE
General Description:
This concurrent resolution of the Legislature and the Governor urges Utah's
congressional delegation to vote to make Federal tax cuts permanent.
Highlighted Provisions:
This resolution:
. urges the elected members of the United States Senate and the United States House
of Representatives representing the state of Utah to support and vote in favor of
making permanent the Federal tax cuts which are set to expire starting in 2005.
Special Clauses:
None
Be it resolved by the Legislature of the state of Utah, the Governor concurring therein:
WHEREAS, each year President Bush has proposed, and Congress has enacted, a tax
cut designed to strengthen the American economy and increase employment opportunities for
working families;
WHEREAS, tax cuts signed into law reduced income taxes for all taxpayers, eliminated
the marriage penalty and death tax, increased the child credit rebate and business expensing,
expanded individual retirement accounts, and cut the double taxation of dividends and capital
gains;
WHEREAS, economic growth stemming from the latest tax cut accelerated at its fastest
rate in 20 years in the third quarter of 2003;
WHEREAS, provisions set forth in the tax cut are set to expire starting in 2005 and will
be completely phased out by the year 2012;
WHEREAS, expiration of the existing tax cuts will increase taxes by 50% for lower
income families, the child credit will fall by 50%, the marriage penalty will be reinstated,
education savings will be taxed, retirement savings will shrink, and every taxpayer will face an
income tax increase;
WHEREAS, expiration of the existing tax cuts will result in the largest tax increase in
American history and stifle economic growth;
WHEREAS, making all the tax cuts permanent will allow taxpayers to feel more confident
investing in their child's college education or saving for retirement; and
WHEREAS, making all the tax cuts permanent will ensure increased economic growth:
NOW, THEREFORE, BE IT RESOLVED that the Legislature of the state of Utah, the
Governor concurring therein, request Utah's congressional delegation to support and vote in favor
of making current tax cuts permanent.
BE IT FURTHER RESOLVED that the Legislature, the Governor concurring therein,
urge Utah's congressional delegation to vote in favor of reducing spending and the federal deficit
in conjunction with making tax cuts permanent.
BE IT FURTHER RESOLVED that copies of this resolution be sent to the members of
Utah's congressional delegation.
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