State Senator Stoller passes tax cut for small businesses

State Senator Stoller passes tax cut for small businesses

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In 2017, the federal government capped state and local tax deductions for small businesses at $10,000, thereby significantly increasing federal taxes for small businesses in Illinois. Not so for large corporations.

After taking office in the Illinois Senate in January of this year, one of my priorities was to pass legislation to help these struggling businesses in Illinois. That’s why I sponsored Senate Bill 2531, which I worked to successfully get passed through both Houses of the General Assembly.

The Governor told me he has never seen such consequential legislation from a freshman legislator and that he intends to sign the bill.

SB 2531 was one of four pieces of legislation I sponsored and succeeded in getting passed through both the House and Senate in my first five months in office.

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