Main Street Tax Certainty Act

referredUnited States· United States Congress· EN

Introduced

23 January 2025

Last action

23 January 2025 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Daines, Steve [R-MT], Sen. Grassley, Chuck [R-IA], Sen. Cramer, Kevin [R-ND], Sen. Moran, Jerry [R-KS], Sen. Blackburn, Marsha [R-TN], Sen. Rounds, Mike [R-SD], Sen. Capito, Shelley Moore [R-WV], Sen. Ricketts, Pete [R-NE], Sen. Britt, Katie Boyd [R-AL], Sen. Risch, James E. [R-ID], Sen. Schmitt, Eric [R-MO], Sen. Wicker, Roger F. [R-MS], Sen. Lummis, Cynthia M. [R-WY], Sen. Hyde-Smith, Cindy [R-MS], Sen. Tuberville, Tommy [R-AL], Sen. Cruz, Ted [R-TX], Sen. Lankford, James [R-OK], Sen. Hoeven, John [R-ND], Sen. Tillis, Thomas [R-NC], Sen. Marshall, Roger [R-KS], Sen. Justice, James C. [R-WV], Sen. Sheehy, Tim [R-MT], Sen. Fischer, Deb [R-NE], Sen. Ernst, Joni [R-IA], Sen. Cassidy, Bill [R-LA], Sen. Thune, John [R-SD], Sen. Budd, Ted [R-NC], Sen. Scott, Rick [R-FL], Sen. Hagerty, Bill [R-TN], Sen. Barrasso, John [R-WY], Sen. Young, Todd [R-IN], Sen. Kennedy, John [R-LA], Sen. Scott, Tim [R-SC], Sen. Banks, Jim [R-IN], Sen. Cotton, Tom [R-AR], Sen. Curtis, John R. [R-UT], Sen. Sullivan, Dan [R-AK], Sen. Graham, Lindsey [R-SC], Sen. Boozman, John [R-AR], Sen. Moreno, Bernie [R-OH], Sen. Husted, Jon [R-OH], Sen. McCormick, David [R-PA], Sen. Lee, Mike [R-UT], Sen. Hawley, Josh [R-MO], Sen. Collins, Susan M. [R-ME], Sen. Cornyn, John [R-TX]

Subjects

Taxation

Source updated

15 May 2025

Taxation

Official source Download file View documents Share

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

23 January 2025
Introduced
Read twice and referred to the Committee on Finance.
Source: IntroReferral
23 January 2025
Introduced
Introduced in Senate
Source: IntroReferral

Votes

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Versions

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Documents

2 official files

Introduced in Senate

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Introduced in Senate
Introduced in Senate · EN · 23 January 2025
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Introduced in Senate
summary · EN · 23 January 2025
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
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Related records

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Sources

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Official source: https://www.congress.gov/bill/119th-congress/senate-bill/213
Open data entity: https://api.congress.gov/v3/bill/119/s/213
us · 119-s-213 · source updated 15 May 2025