RED BUD, Ill. – State Rep. Nathan Reitz, D-Steeleville, is helping provide tax relief for job creators with his backing of a new law expanding a current tax credit to include manufacturing and production machinery and equipment.
“Hard-working business owners deserve relief from taxes and the constant government red tape placed on them and that remains one of my top priorities,” Reitz said. “We need to build a stronger Illinois, and we have to start by giving more support to our businesses and job creators. This tax relief will do that while also help lowering the cost of goods manufactured in Illinois.”
Reitz is backing Senate Bill 689, which expands the Manufacturer’s Purchase Credit, a tax credit to pay for production-related property and machinery that manufacturers need to run their businesses. This bill builds up numerous other tax credits and jobs programs to bring a thriving economy back to underserved areas of Illinois. The law passed with strong bipartisan support and is now law.
“When manufacturers can afford the tools they need to sell their goods at reasonable prices, the entire community benefits,” Reitz said. “This bill will help create sustainable jobs, make local goods more affordable and keep foreign corporations from hurting our businesses. Illinoisans deserve an economy that works for them, and I will continue to work to make sure they get it.”