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Bill · S

S. 213 (119th)

Main Street Tax Certainty Act

Original

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 sourceDownload fileView documentsShare

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

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 23 January 2025

    Introduced

    Introduced in Senate

    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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