This morning, Chairman Jason Smith (R-MO) of the House Ways & Means Committee and Chairman Ron Wyden (D-OR) announced a bipartisan and bicameral agreement that will (1) restore immediate R&D expensing, (2) create a pro-growth interest deductibility standard, and (3) allow full expensing for capital equipment purchases.

The Illinois Manufacturers’ Association has been working hand-in-hand for more than a year with our partners at the National Association of Manufacturers and many coalition partners to get these pro-growth tax policy changes passed by Congress.

We now need them to act quickly and pass the Tax Relief for American Families and Workers Act of 2024.

The IMA has created a sign-on letter for Illinois companies and we are encouraging you to add your company name to the letter by the close of business on Thursday, January 18 by completing the form below. Copies of the letter will be sent to all member of the Illinois delegation and the four legislative leaders in Washington D.C. Only your company name and city will be included with the letter, but please complete all fields.

Manufacturers, local chambers and EDCs, and allied organizations are able to sign so please share with colleagues.

Thank you.  With your continued help, we will get these tax policy changes across the goal line!