VICTORY: 'Unconscionable' Plan to Take COVID-19 Deductions from Small Businesses Fails

Date: January 13, 2021

Governor Pritzker’s plan to decouple Illinois tax code from federal legislation allowing small businesses to fully deduct losses they have suffered has died.

NFIB State Director Mark Grant said the small business community was vigorously opposed to the governor’s plan, which failed to pass during the lame-duck session that ended today, Jan. 13.

“Small businesses throughout the state have suffered a year of unprecedented economic disaster due to COVID-19 and Governor Pritzker’s mandated shutdowns,” Grant said. “This proposal was unconscionable.

“Governor Pritzker tried to throw Illinois small businesses under the bus to the tune of $500 million in taxes at a time when too many small businesses are barely hanging on,” Grant said, warning that the issue may come up again during the 2021 legislation session that also began today.

Related Content: Small Business News | Illinois

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