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.
REVITALIZATION IN THE NEWS: Chicago Recovery Grants
“City funding will support more than $137 million in neighborhood investments.” Twenty-six new and expanded restaurants, health centers, cultural institutions and other neighborhood improvement projects will move forward through more than $33.5 million in Chicago Recovery Plan (CRP) grants announced by Mayor Lori E. Lightfoot and City officials. This funding is all available through…
Illinois Republican Gubernatorial Meet the Candidates Series
The SBAC hosted a meet the candidate series for the republican candidates running for Illinois Governor. You can listen to the discussions here! Mayor Richard Irvin Senator Paul Schimpf Max Solomon Jesse Sullivan Gary Rabine Senator Darren Bailey The primaries will be held on June 28th. SPONSORS Fifth Third Bank Saul Ewing Arnstein Lehr Inland…
Secretary of State Candidate Forum
Thank you State Representative Brady, City Clerk Anna Valencia, and Alderman David Moore for joining us last week at our Illinois Secretary of State Candidate’s Forum! The Secretary of State’s office provides important services to small businesses and can help improve the confidence the small business community has in our government. Hear opening statements from…
