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Local Congressmen Promote New Bill for Small Business Tax Breaks
Two local lawmakers are pushing new legislation that would give smaller businesses the same tax deductions as corporations when donating inventory to non for profit organizations.

18th District Congressman Aaron Schock and 17th District Congressman Bobby Schilling promoted the Charitable Contribution Parity Enhancement Act at Galesburg's NAIER facility Thursday morning.

Shock described how the bill can directly benefit a non for profit re-distributor like NAIER.

"It's just to create a level playing field so we give the same incentives to the pass through entities, the small family businesses, to incentivize them to give their excess of properties to organizations like NAIER," Schock said.

"Obviously that would be a big boom for NAIER, here in Galesburg. Why? Because right now, they are only able to solicit one out of every four businesses in America."

Schock says that's because 75% of American businesses are "mom and pop" type operations.

So many lives will be touched with the tax code amendment, according to Congressman Schilling. He says more charitable organizations will thrive.

Chicago Democrat Danny Davis is also supporting the bill.





(Inside Galesburg's NAIER warehouse, Congressmen Bobby Schilling and Aaron Schock promote the same tax deductions for smaller businesses that corporations benefit from; WGIL Photos and News Story by Kyle Schassburger).
01 27 12 by Newsroom
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