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.
Letter to Alders
To Members of the Chicago City Council: Chicago small businesses have faced many challenges over the past several years and encountered numerous obstacles while attempting to recover from the devastating pandemic. Disinvested communities continue struggling to fill vacant storefronts, attract businesses, and foster economic development. We ask that you refrain from passing the Chicago Paid…
Chicago Paid Leave and Paid Sick and Safe Leave Ordinance
A press conference was held at City Hall to highlight concerns with the PTO ordinance and ask that changes to the ordinance be made. Hear from business owners, community advocates, and local chambers who passionately discussed their concerns and suggested possible improvements to the ordinance below. Over 30 chambers of commerce and place-based organizations sent…
SBAC Advocacy Update
October 10, 2023 The SBAC continues fighting for policies that will support small businesses and neighborhood business districts. Here are some updates on our efforts! Health Insurance The rising cost of health insurance continues to be a challenge for the small business community. Last spring the SBAC championed legislation focused on reducing premiums for small…
