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As the CEO of the American Council of Engineering Companies of Illinois representing engineering firms that employ over 12,000 people in Illinois, I am writing to express our sincere gratitude to Representative LaHood for his crucial vote in favor of The Tax Relief for American Families and Workers Act of 2024.
Representative LaHood’s vote will encourage greater investment in research and development that will help Illinois continue rebuilding and modernizing its infrastructure by the nation’s most innovative and forward-thinking engineering firms located right here in our state.
Illinois engineering firms invest a great deal in research and development. Over the years, this investment has yielded exciting new ways to expand electric vehicle infrastructure, new processes to treat wastewater, replace lead water lines and the development of materials that allow roads and bridges to last longer—saving taxpayers critical dollars while reducing commuter delays.
Our engineering firms understand firsthand the importance of efficient tax policies that incentivize innovation. Without the fix Representative LaHood supported, the current R&D amortization increases the tax bill for small businesses, disincentivizes new solutions, and sends more money to Washington instead of keeping it here in the Central Illinois region.
We urge our Senators to follow Representative LaHood’s lead and recognize the importance of long-term policy solutions that support American innovation and vote to fix R&D amortization.
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This letter by Kevin Artl, president and CEO of the American Council of Engineering Companies of Illinois, originally appeared in The Pantagraph on March 1, 2024.