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: West Garfield/Chatham Pop!
“The activation of underutilized West and South side properties is a key strategy to revitalize neighborhood commercial corridors with active, people-oriented activities,” Commissioner Cox said. The City of Chicago announced on Thursday, the creation of two new public plazas located in West Garfield Park and Chatham. These projects are a part of the Department of…
You’re Invited to The Rebound!
The SBAC and A Safe Haven are thrilled to invite you for a LIVE and IN-PERSON evening you won’t forget! It will be our first big live event of the year, and with the mask mandate now lifted, we hope to see many of you face-to-face once again. Join us to celebrate the culmination…
Back to Business Grants Action Call
Illinois Policymakers Should Support Small Businesses The pandemic and COVID-19 mitigations began inflicting immense damage to small businesses in March 2020. Thousands of small businesses initially applied for Illinois Business Interruption Grants. While these grants helped some small businesses, approximately 80% of applicants were not awarded a grant. Illinois then received over $8 billion in…
