Bristow Measure to Create Tax Credit for Small Businesses Passes Out of Committee

SPRINGFIELD, Ill. – In an effort to create jobs in the Riverbend region and lighten the tax burden on small business owners, state Rep. Monica Bristow, D-Godfrey, recently introduced a measure that would create a tax credit for Illinois businesses who continue to grow and develop new jobs.

“Working to create new jobs in our local communities is one of my top priorities,” said Bristow.  “This legislation will promote job creation by incentivizing business owners to hire more employees and continue to expand our economy. Under this bill, it will benefit businesses to create more jobs.”

Bristow’s House Bill 5757 would amend the Illinois Income Tax Act and create an income tax credit for any Illinois business that increases its number of employees by more than 20 percent from the previous year. Bristow recently presented the measure before the House Revenue and Finance Committee.

“By creating more jobs in our region, we will be revitalizing our economy.  When we put folks back to work and they earn money, they put that money back into our local market,” continued Bristow.  “I urge my colleagues from around the state to support this measure to create more jobs throughout Illinois, and I look forward to continuing to work with local businesses to find new and creative solutions to cut red tape and lessen the tax burden on our businesses.”

For questions or for more information, please contact Rep. Bristow’s full-time constituent service office by calling 618-465-5900, or by emailing RepMBristow@gmail.com.