San Antonio Hispanic Chamber of Commerce (SAHCC) applauds the Texas House of Representatives for passing H.B. 1195, which will prevent an unexpected tax increase on small businesses.

April 1, 2021 - One of SAHCC’s top 15 legislative priorities for this session is to “provide economic relief for small businesses that have been adversely impacted by COVID-19.”

Last year, Congress established the Paycheck Protection Program (PPP) through the CARES Act to allow small businesses to keep paying their employees during COVID-19. Small businesses have been disproportionately affected by the COVID-19 pandemic and many have had to pivot and find creative ways to stay afloat.

Many business owners expressed concerns about whether these loans will be treated as taxable income, but Congress provided clarity to ensure small businesses would not be subject to federal taxes.

“Our small businesses need economic certainty, and therefore we applaud the Texas House for passing HB 1195 to ensure small businesses are not faced with an unexpected tax increase,” said Martin Gutierrez, the director of Public Policy & Business Advocacy for the San Antonio Hispanic Chamber of Commerce.