(WAND) — Small and midsize manufacturer members of the Technology & Manufacturing Association (TMA) are opposing Governor JB Pritzker's plan to make up Illinois' projected deficit.
The TMA said Governor Pritzker plans to make up the projected $267 million deficit by taking away cost-saving benefits given to manufacturers in the One Big Beautiful Bill Act.
The act created a new tax provision allowing for 100% bonus depreciation on qualified production property. According to the TMA, the move is meant to incentivize manufacturing within the United States.
The TMA said its members are strongly against 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," said TMA Executive Vice President Dennis LaComb. "Now, before we could even benefit, Governor Pritzker wants to strip those benefits away."
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