The REST Act Supports Small Businesses! (H.R.3725)
The SBAC is strongly supporting legislation filed by Representative Newman designed to cut taxes on entrepreneurs and small businesses across the country. The Relief and Equity for Small Businesses through Tax (REST) Act adjusts Section 199A of the Internal Revenue Code to increase the deduction of qualified business income from 20% to 25% for business owners making less than $100,000 in taxable annual income.
Simply put, this means entrepreneurs that generate less than $100,000 in income will pay fewer taxes so they can grow their businesses.
Read Congresswoman's Marie Newman's Press Release HERE.
SBAC Legislative Agenda 2023
2023 SBAC Lobby Day in Springfield SBAC Legislative Agenda 2023 The Small Business Advocacy Council (SBAC) is laser-focused on formulating and fighting to pass policies that support small businesses and local communities. The SBAC’s 2023 agenda includes legislation that will support small businesses struggling to hire and retain employees and stabilize the costs of health…
Procurement Bidding Reform
Read S.B. 2192 SB 2192 FACT SHEET Procurement Bidding Reform SB 2192 Small businesses play a critical role in Illinois’ economy. Helping small businesses receive their fair share of state procurement contracts is important for job creation and the success of the state’s small businesses. Senate Sponsors: Sen. Ram Villivalam, Williw Preston, Mattie Hunter, Julie…
Transparency Bill for Government Contracts
Read H.B. 2368 HB 2368 FACT SHEET Transparency Bill HB 2368 Each year Illinois awards government contracts to businesses. These contracts cover everything from construction projects to professional services. Small businesses that drive our economy often have difficulty competing for these government contracts. The same is true for minority and women-owned businesses. Recognizing the important…