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 of 2021
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 2021, or $120,000. The credit is also available to certain charitable organizations.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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