Tax policy

Small Business Majority Sends Letter to the White House ahead of President's Address to Congress

As a leading representative of America’s 30 million small businesses, we offer the following recommendations on what small businesses are hoping to hear in President Biden's remarks when he addresses Congress on Wednesday, April 28.

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Small Business Majority supports expanding the Illinois State Earned Income Credit (EIC) to benefit entrepreneurs

A year into the pandemic, many small businesses in Illinois continue to struggle to keep their doors open. While government funding programs have provided a crucial lifeline for many businesses, one-off funding opportunities are not going to be enough to support the long-term recovery of our small business economy. The proposed Illinois Earned Income Credit (EIC) expansion would help address this by closing the gaps in federal funding relief programs and putting more money into the pockets of  low-income and working-class Illinoisans.

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Small Business Majority supports removal of CAPCO tax credit

Small Business Majority submitted a letter to the Georgia Senate Finance Committee to ask them to remove legislation implementing a CAPCO tax credit program from HB 587, which would provide $150 million worth of tax credits to “certified capital companies.” The CAPCO model is fundamentally flawed and this money would be much better spent directly supporting Georgia's small businesses.

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Small Business Majority Supports Healthcare Provisions in American Rescue Plan

Today, Small Business Majority submitted a letter to Senate leadership supporting healthcare provisions in the current iteration of the American Rescue Plan, which has vital measures that will strengthen access to healthcare and lower costs for small businesses and their employees. 

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Small Business Majority supports Wisconsin's SB2 Senate Amendment 4

Small Business Majority submitted a letter to the Wisconsin Senate Comittee on Financial Institutions and Revenueof in support of SB2 Senate Amendment 4, which would bring Wisconsin state tax laws for small businesses in conformity with the CARES Act and federal income taxes regarding small business owners’ ability to deduct allowable expenses paid from Paycheck Protection Program (PPP) loans on their state income taxes.

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Small Business Majority Supports State Income Tax Exclusion for PPP and Rebuild Virginia Grant Borrowers

Today, Small Business Majority submitted remarks to the House Committee on Finance during the Virginia Regular Session support SB 1146, which would provide up to $50,000 in deductions related to the Rebuild Virginia Grants and up to $50,000 for forgiven PPP loans. SB 1146 would create parity in how PPP funds are treated at both the federal and state level and would allow small businesses not to incur more debt during the pandemic.

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Small Business Majority Supports State Income Tax Exclusion for PPP Borrowers in Virginia

Small Business Majority submitted written testimony during Virginia's General Session in support of HB 1787, which would establish an state income tax exclusion for Paycheck Protection Program (PPP) borrowers. Small Business Majority called on the House Committee on Finance to support the legislation as it would help small buisnesses by creating parity in how PPP funds are treated at the federal and state level. 

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