Manufacturing Sign On Letter to Oppose Tax Hikes
Earlier this year, Governor JB Pritzker released his budget proposal that included nearly $1 billion in tax hikes on manufacturers and other job creators. This proposal to raise taxes comes at a time when Illinois is still recovering economically from the global pandemic and after the President and Congress passed the American Rescue Plan that will send a total of $13 billion to Illinois and local governments.
The Governor and legislators need to hear about the impact of tax increases on Illinois manufacturers.
Among the proposals are an effort to eliminate the Manufacturers Purchase Credit, reinstate the Corporate Franchise Tax, and significantly limit accelerated depreciation for capital investment and net operating losses.
In the final seven weeks of the spring legislative session, the Governor and lawmakers will work to pass a state budget and hearings start next week on these tax increase proposals. It’s imperative that elected officials hear from the Illinois Manufacturers’ Association and manufacturers across the state.
Please join the IMA and sign onto this joint letter that will be provided to the Governor, legislative leaders, and all members of the General Assembly. The deadline for adding your company’s name onto the letter is Thursday, April 22.
Please complete the form below to add your name to the letter.