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IMA Tax Policy Blog

Illinois Manufacturers Applaud House Passage of Historic Tax Reform Bill

The IMA and the National Association of Manufacturers (NAM) praised the passage of H.R. 1, the Tax Cuts and Jobs Act, by the U.S. House of Representatives on Thursday, November 16.

And when the Senate takes up its tax reform bill in the coming days, we urge Senators to stand with manufacturers as well. Don’t let us down. The current tax system is hurting workers in Illinois. Our elected leaders need to seize this opportunity, get tax reform across the finish line and send it to President Donald Trump’s desk. Manufacturers can’t wait any longer.

“America witnessed history today as the House of Representatives passed the biggest, boldest tax reform in more than 30 years, and every member of Congress who voted for reform showed their constituents they are unequivocally standing up for American manufacturing workers,” said NAM President and CEO Jay Timmons. “This bill moves us closer to achieving the goals manufacturers have sought for decades, and for manufacturers across this country, there is no question that when tax reform becomes law, we’ll be empowered to create more jobs, invest more in America and help lift up working families and improve their lives.”

Passage of H.R. 1 follows months of engagement by manufacturers with Congress and the White House on tax reform. The NAM’s most recent quarterly survey found that if comprehensive tax reform was enacted, two-thirds of manufacturers would increase capital spending and grow their businesses while more than half would hire more workers and increase employee wages and benefits.

Because of this legislation’s critical importance to manufacturers and their workers, the NAM key-voted passage of H.R. 1. The NAM’s key-vote letter to members of the U.S. House of Representatives can be found here.