Microchip makers could get tax breaks to expand in Illinois

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SPRINGFIELD, Ill. (NEXSTAR) – A year after Gov. JB Pritzker approved a plan to “decouple” the state from the 2017 Trump-era tax cuts, support is growing in the statehouse for creating a new tax incentive program to lure microchip makers in to lure the US Land of Lincoln.

“As we’ve seen, the pandemic is creating these tensions and cracks in the global supply chain,” said Rep. Mike Halpin (D-Rock Island). “I have a bill that would encourage manufacturers to make microchips, semiconductors and other components right here in Illinois.”

The proposal has bipartisan support in the House of Representatives. It unanimously cleared the Senate last month. The Illinois Chamber of Commerce, the Illinois Manufacturers Association, and the University of Illinois are among groups supporting the idea.

“We have to compete with states like Ohio and Indiana,” Halpin said, “and until we can convince either the federal government or our sister states to stop this race to the bottom, we have to offer good Illinois companies what we want theirs to do.” expand activities here.”

Republicans have criticized Pritzker and Illinois Democrats for phasing out tax breaks at a time when jobs were still recovering from pandemic-related layoffs, but corporate earnings and broader economic output numbers have proved resilient.

“These parties have a vested interest in making Illinois look bad enough that they can come in and try to fix it,” Halpin said. “Illinois is a great place to live. It’s a great place to work. It’s a great place to do business.”

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