Main Street Tax Certainty Act has not moved since its introduction on Jan 23, 2025, with cosponsors from both parties
IntroducedJan 23, 2025
Reported—
Passed one chamber—
Passed both—
Law—
What it changes · CRS summary
Written by the Congressional Research Service [2]. 74 words.
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.
Context
- Committees
- House Ways and Means Committee
- Policy area
- Taxation: 20 of 6,214 bills became law, 113th–118th (0.3%)
- Sponsor
- 0 of 107 bills enacted since 2013
- Text versions
- 1: introduced in house · 61 words
- Latest action
- Jan 23, 2025: Referred to the House Committee on Ways and Means.
- Records
- Congress.gov · Bill text
Exhibit 1Passage odds band at each stage, rated when the bill reached it [4]
Related bills · 0
The bill status record lists no related bills.
Exhibit 2Articles naming the bill per day, last 90 days, US sources [3]