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) <br />? <br /> <br />CITY OF NORTH OLMSTED <br />RESOLIDTION NO. 90 - 123 <br />BY : *L • fa-&? <br />A RESOLUTION OPPOSING THE RESTRICTION OR ELIMINATION OF <br />THE FEDERAL TAX DEDUCTION FOR STATE AND LOCAL INCOME <br />AND PROPERTY TAXES. <br />WHEREAS, the itemized federal income tax deduction for <br />state and local taxes has been a fundamental component of our <br />nation's tax policy and a cornerstone of fiscal federalism <br />since imposition of the income tax; and <br />WHEREAS, the annual income of the majority of Americans <br />who use the state and local deduction is less than $50,000; <br />and <br />WHEREAS, significant restriction or elimination of the <br />state and local deduction would inhibit elected officials at <br />local levels of government as they strive to meet the most <br />basic needs of the American people with fewer federal tax <br />dollars; and <br />WHEREAS, this deduction is being threatened by the Bush <br />administration in a proposal to restrict the state and local <br />income tax deductibility by placing a$10,000 cap on the <br />deduction. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY <br />OF NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHIO: <br />SECTION 1: That this Council firmly opposes the <br />restriction or elimination of the federal tax deduction for <br />state and local income and property taxes. <br />SECTION 2: That it is the sense of this Council that the <br />Congress should retain the current federal tax deduction for <br />state and local income and property taxes. <br />SECTION 3: That the Clerk of Council be, and she is <br />hereby authorized and directed to send a certified copy of <br />this Resolution to Ohio Senators John Glenn and Howard M. <br />Metzenbaum and to Congressmen Edward F. Feighan, Mary Rose <br />Oakar and Louis Stokes, and to such other interested parties <br />as the Clerk may deem to have an interest in passage of said <br />Resolution. <br />SECTION 4: That this Resolution shall take effect and be <br />in force from and after the earliest period allowed by law. <br />PASSED : 4 /,? Q D <br />ATTEST: <br />Florence Campbe 1 <br />Clerk of Council <br />N _ D J 0-1? <br />James D. Boehmer <br />President of Council <br />APPROVED : , .4 i P9'D <br />e:?"111 ?- <br />Ed Boyl or <br />First Reading: 9 <br />Second Reading: <br />Third Reading: