“It’s not the responsibility of small, family-run manufacturers to pay more to fund the state’s perpetual overspending.”
SCHAUMBURG, IL – At the start of veto session in Springfield on Tuesday, Governor Pritzker announced he wants to make up the state’s projected $267 million deficit by taking away cost-saving benefits provided to manufacturers in the Working Families Tax Cut, or One Big Beautiful Bill Act. The Technology & Manufacturing Association (TMA) and their small and midsize manufacturer members strongly oppose making manufacturers pay the price for Springfield’s overspending.
“At a time when manufacturers face enormous headwinds, Washington threw us a lifeline with improvements to the tax code that will lower costs and help our members compete on the global marketplace. Now, before we could even benefit, Governor Pritzker wants to strip those benefits away,” said TMA Executive Vice President Dennis LaComb. “Illinois manufacturers already face among the highest taxes and costs in the nation, hampering our ability to compete and making it harder to create jobs for Illinois workers. Now Springfield wants to put us at even more of a national competitive disadvantage.”
The One Big Beautiful Bill Act created a new tax provision, Section 168(n), allowing for 100% bonus depreciation on qualified production property, including manufacturing structures, as a new form of accelerated depreciation. This is intended to incentivize domestic manufacturing and production and support expansion of facilities here in America. Pritzker wants the Illinois legislature to immediately change state law to decouple from federal law on this new bonus depreciation.
“It’s not the responsibility of small, family-run manufacturers to pay more to fund the state’s perpetual overspending,” said LaComb. “Will our state lawmakers support ‘Made in Illinois’ or will they continue to overburden our state’s manufacturers to prop up a tax-and-spend agenda? TMA will be meeting with legislators and making it clear that following through on Pritzker’s bad idea would severely impact their constituents.”