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Bill · HR

H.R. 703 (119th)

Main Street Tax Certainty Act

Original

referredUnited States· United States Congress· EN

Introduced

23 January 2025

Last action

23 January 2025 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Lloyd Smucker, Mike Kelly, Darin LaHood, Beth Van Duyne, Rep. Buchanan, Vern [R-FL-16], Rep. Miller, Carol D. [R-WV-1], Rep. Feenstra, Randy [R-IA-4], Gregory Murphy, Rep. Stauber, Pete [R-MN-8], John Joyce, Rep. Bost, Mike [R-IL-12], Rep. Crenshaw, Dan [R-TX-2], Rep. Meuser, Daniel [R-PA-9], Rep. Ellzey, Jake [R-TX-6], Rep. Weber, Randy K. Sr. [R-TX-14], Maria Salazar, Andrew Clyde, Rep. Fitzgerald, Scott [R-WI-5], David Rouzer, Rep. Cammack, Kat [R-FL-3], Rep. Finstad, Brad [R-MN-1], Rep. Carter, Earl L. "Buddy" [R-GA-1], Rep. Ciscomani, Juan [R-AZ-6], Rep. Cline, Ben [R-VA-6], Vince Fong, Adrian Smith, Rep. Rulli, Michael A. [R-OH-6], John Moolenaar, Rep. Foxx, Virginia [R-NC-5], Rep. Lawler, Michael [R-NY-17], Rep. Green, Mark E. [R-TN-7], Harold Rogers, Stephanie Bice, Dale Strong, Rep. Guest, Michael [R-MS-3], Rep. Hudson, Richard [R-NC-9], Thomas Kean, Mike Rogers, Rep. Nunn, Zachary [R-IA-3], Nathaniel Moran, Pat Fallon, Rep. Edwards, Chuck [R-NC-11], Rep. Moore, Riley [R-WV-2], John Rutherford, Rep. Hern, Kevin [R-OK-1], Rep. Estes, Ron [R-KS-4], Rep. Gottheimer, Josh [D-NJ-5], Blake Moore, Rep. Kustoff, David [R-TN-8], Rep. Grothman, Glenn [R-WI-6], Rep. Van Orden, Derrick [R-WI-3], Rep. Fitzpatrick, Brian K. [R-PA-1], James Baird, Rep. Fleischmann, Charles J. "Chuck" [R-TN-3], Mike Carey, Rep. Griffith, H. Morgan [R-VA-9], Pete Sessions, Rep. Webster, Daniel [R-FL-11], Young Kim, Rep. LaLota, Nick [R-NY-1], Joe Wilson, Rep. Zinke, Ryan K. [R-MT-1], Ann Wagner, Rep. Scott, Austin [R-GA-8], Mark Alford, Rep. Fulcher, Russ [R-ID-1], Troy Balderson, Kevin Kiley, Andrew Garbarino, Tom Barrett, Barry Moore, Sam Graves, Max Miller, Jefferson Van Drew, Rep. Ezell, Mike [R-MS-4], Diana Harshbarger, Celeste Maloy, Julia Letlow, Ashley Hinson, Rep. Kiggans, Jennifer A. [R-VA-2], Rep. Bacon, Don [R-NE-2], Nicholas Begich, David Valadao, Rep. Walberg, Tim [R-MI-5], Rep. Kelly, Trent [R-MS-1], Mike Collins, Nicholas Langworthy, Rep. Franklin, Scott [R-FL-18], Rep. Bilirakis, Gus M. [R-FL-12], Rep. Huizenga, Bill [R-MI-4], Rep. Allen, Rick W. [R-GA-12], Jack Bergman, Rep. Higgins, Clay [R-LA-3], Mark Amodei, Glenn Thompson, Rep. Owens, Burgess [R-UT-4], Bryan Steil, Rep. Guthrie, Brett [R-KY-2], Rep. Barr, Andy [R-KY-6], Rep. Calvert, Ken [R-CA-41], Rep. Wittman, Robert J. [R-VA-1], Tim Burchett, Rep. Newhouse, Dan [R-WA-4], Rep. Mace, Nancy [R-SC-1], Ryan Mackenzie, Rep. Houchin, Erin [R-IN-9], Roger Williams, Rep. Tenney, Claudia [R-NY-24], Rep. Fischbach, Michelle [R-MN-7], Rep. Hageman, Harriet M. [R-WY-At Large], Rep. Steube, W. Gregory [R-FL-17], Rep. Gill, Brandon [R-TX-26], Rep. Schmidt, Derek [R-KS-2], Rep. De La Cruz, Monica [R-TX-15], Rep. McCormick, Richard [R-GA-7], Addison McDowell, Robert Bresnahan, Mariannette Miller-Meeks, Barry Loudermilk, Rep. Yakym, Rudy [R-IN-2], Rep. Gooden, Lance [R-TX-5], Rep. Johnson, Dusty [R-SD-At Large], Rep. Malliotakis, Nicole [R-NY-11], Scott Perry, Rep. Burlison, Eric [R-MO-7], Rep. Arrington, Jodey C. [R-TX-19], Rep. Bean, Aaron [R-FL-4], William Timmons, Rep. Miller, Mary E. [R-IL-15], Doug LaMalfa, Rep. McCaul, Michael T. [R-TX-10], Rep. Wied, Tony [R-WI-8], Marjorie Greene, Rep. Downing, Troy [R-MT-2], Rep. Crank, Jeff [R-CO-5], Carlos Gimenez, Rep. Davidson, Warren [R-OH-8], Frank Lucas, Rep. Taylor, David [R-OH-2], Tim Moore, Morgan Luttrell, David Schweikert, Rep. Comer, James [R-KY-1], Tom Emmer, David Joyce, Brian Jack, Marlin Stutzman, Henry Cuellar, Guy Reschenthaler, Russell Fry, Tom Cole, Rep. Hill, J. French [R-AR-2], Ronny Jackson, Cory Mills, Rep. McGuire, John [R-VA-5], Julie Fedorchak, Rep. Ogles, Andrew [R-TN-5], Jay Obernolte, Laurel Lee, Rep. Rose, John W. [R-TN-6], Michael Turner, Rep. Self, Keith [R-TX-3], Rep. Messmer, Mark [R-IN-8], Steve Womack, Gary Palmer, Bruce Westerman, Mike Flood, August Pfluger, Rep. Goldman, Craig [R-TX-12], Rep. Latta, Robert E. [R-OH-5], Rep. Mann, Tracey [R-KS-1], Michael Simpson, Rep. Aderholt, Robert B. [R-AL-4], Rep. Dunn, Neal P. [R-FL-2], Jefferson Shreve, Rep. Onder, Robert F. [R-MO-3], Gabe Evans, Pat Harrigan, Jeff Hurd, Rep. Tiffany, Thomas P. [R-WI-7], Andy Harris, Michael Baumgartner, Elise Stefanik, Ralph Norman, Rep. Biggs, Sheri [R-SC-3], Brad Knott, Scott DesJarlais, Rep. Gonzales, Tony [R-TX-23], Rep. Biggs, Andy [R-AZ-5], John James, Jim Jordan, Wesley Hunt, Sanford Bishop

Subjects

Taxation

Source updated

16 August 2025

Taxation

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

  1. 23 January 2025

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 23 January 2025

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 23 January 2025

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

Sponsors

Related records

No cross-record relationships stored yet.

Sources

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