To amend the Internal Revenue Code of 1986 to provide advance tax refunds to small businesses, and for other purposes.
Restore America's Main Street Act
This bill provides a small business with $1.5 million or less in gross receipts and not more than 50 full-time employees a refundable tax credit (rebate) equal to the lesser of 30% of its gross receipts for the first taxable year beginning in 2019, or $120,000. The credit is also available to certain charitable organizations.
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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