United States · Bill · HR
H.R. 703 (119th)
Main Street Tax Certainty Act
Introduced
23 January 2025
Last action
—
Status
Referred to the House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
16 August 2025
Summary
Main Street Tax Certainty Act This bill makes permanent the qualified business income (QBI) tax deduction. Under current law, individuals, estates, and trusts may deduct the lower of (1) 20% of QBI from a qualified business, qualified real estate investment trust dividends, and qualified publicly traded partnership income; or (2) 20% of taxable income less net capital gain. (Some limitations apply.) However, under current law, the QBI tax deduction expires after December 31, 2025.
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Documents
2 official files
Introduced in House
Introduced in House
Introduced in House · EN · 23 January 2025
Introduced in House
summary · EN · 23 January 2025
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Sources
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- Official source: https://www.congress.gov/bill/119th-congress/house-bill/703
- Open data entity: https://api.congress.gov/v3/bill/119/hr/703