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5/1/90(LEGAL)Reso2(Vk)GW <br />RESOLUTION NO. 90-57 <br />A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA, <br />BY ITS BOARD OF COUNTY COMMISSIONERS, TO THE <br />CONGRESS OF THE UNITED STATES OF AMERICA <br />OPPOSING THE U.S. HOUSE BUDGET AND HOUSE WAYS <br />AND MEANS COMMITTEES' PROPOSAL TO ELIMINATE OR <br />RESTRICT LOCAL TAX DEDUCTIONS. <br />WHEREAS, in order to come up with the $15 billion in <br />new taxes proposed in the president's budget, the Speaker of <br />the House Tom Foley and U. S. Representative Dan <br />Rostenkowski have discussed a "potential revenue raisers' <br />list" which includes a proposal to eliminate or restrict the <br />state and local income or property tax deductions; and <br />WHEREAS, this proposal to eliminate deductibility <br />would strike at the basic principle of federalism that has <br />been inherent in the income tax system since it was first <br />enacted in 1913; and <br />WHEREAS, deductibility has always been accepted as an <br />essential constitutional principal to protect the integrity <br />and fiscal independence of the separate states and local <br />governments; and <br />WHEREAS, repeal of deductibility would be a direct <br />interference with the most fundamental of all state and <br />local government rights, i.e., the power of each to raise <br />revenue and finance services as it deems appropriate; and <br />WHEREAS, this proposal only continues the squeeze on <br />state and local governments at a time when we are attempting <br />to finance increasing public service demands with fewer <br />dollars from the federal government; and <br />WHEREAS, grant-in-aid to state and local governments <br />has been slashed by more than 50 percent over the last <br />decade and major national studies show that counties have <br />had to raise revenues to replace their lost federal dollars, <br />and elimination or restriction of the deduction for this tax <br />will make it even harder for counties to raise the necessary <br />revenues; and <br />WHEREAS, this is the largest single deduction taken <br />by the nation's taxpayers, <br />