Main Street Tax Certainty Act
The summary
What this bill does
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.
Legislative timeline
From introduction
Jan 23, 2025
Introduced & referred to committee
Congressional support
Sponsors & Cosponsors
U.S. Representative - MT · R-MT
45 cosponsors
U.S. Representative - IA · R-IA
U.S. Representative - ND · R-ND
U.S. Representative - KS · R-KS
U.S. Representative - Tennessee District 7 · R-TN
U.S. Senator - South Dakota · R-SD
U.S. Representative - WV · R-WV
U.S. Representative - NE · R-NE
U.S. Representative - AL · R-AL
U.S. Representative - ID · R-ID
U.S. Senator - Missouri · R-MO
U.S. Representative - MS · R-MS
U.S. Representative - WY · R-WY
+ 33 more cosponsors
Roll-call vote
The vote, by member
The vote, by member
VERSION CHANGES
What changed,
and where.
Loading the bill text comparison.
Bill Metadata
| Congress | 119 |
| Bill Type | S |
| Bill Number | 213 |
| Origin Chamber | Senate |
| Current Status | Introduced |
| Policy Area | Taxation |
| Primary Committee | Not assigned |
| Introduced | January 23, 2025 |
| Latest Action | January 23, 2025 |
| Cosponsors | 45 · House vote — · — views |