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.
Business Interruption Grant Program
IL – Many small and local businesses were devastated by the pandemic but only 20% of applicants received Illinois Business Interruption Grants. Watch coverage of SBAC President Elliot Richardson testifying before the Illinois Senate Commerce Commission about the need for an improved and more inclusive process in the future. Please translate this page to…
Summarization of EEOC Vaccine Guidelines
December 16th – The Equal Employment Opportunity Commission (EEOC) has addressed the most common employer questions regarding the COVID-19 vaccine. As of now, there are currently no state or federal laws that prohibit employers from requiring vaccinations as a condition of employment, however, employees can refuse to get the vaccine if they have certain medical…
Rebuilding Lives and Businesses
Hard-working Americans had no idea what was coming in February of 2020. It seemed unfathomable that many small businesses would face the possibility of permanently closing or their employees would be without jobs in the spring. With the resurgence of Covid-19 cases, the situation for both small businesses and their employees has become even…
