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.
Funding For Local Chambers of Commerce
HB4993 -> 1 Pager & Endorsements Chamber Relief Grant Program Local chambers of commerce provide important support and services to small businesses. They connect small businesses to potential customers and play a pivotal role in fostering commerce in local communities. However, many chambers have been devastated by the pandemic. For that reason, we are asking…
Occupational Licensing Reform
Occupational Licensing Reform Occupational licenses are often necessary to protect the safety, health, and welfare of the public. However, when these licenses are revisited by legislators, it is important they have accurate and unbiased information before determining whether and how to maintain such a license. Regulatory Sunset Review – HB5576 This legislation amends the Regulatory…
Illinois policymakers need to allocate rescue plan grants to help struggling businesses.
The SBAC is advocating to ensure struggling and qualified businesses across Illinois have access to Back to Business grants. This means making sure the grant program is adequately funded. Read Elliot’s article in The State Journal-Register here. Please translate this page to the language of your choice. Supporters Fifth Third Bank Saul Ewing Arnstein Lehr…
