Main Street Tax Certainty Act

Sponsored byRep. Smucker, Lloyd [R-PA-11]PA· Introduced 23 janvier 2025

Open on Congress.gov

192

Cosponsors

Actions

Amendments

Committees

—

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Introduced

Committee

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Latest action

Referred to the House Committee on Ways and Means.

23 janvier 2025·1 year ago

Summary

Introduced in House · Updated 1 mai 2025

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.

Timeline

3 actions

Referred to the House Committee on Ways and Means.
23 janvier 2025 · IntroReferral
Introduced in House
23 janvier 2025 · IntroReferral
Introduced in House
23 janvier 2025 · IntroReferral

Sponsorship

192 cosponsors

Sponsor

Rep. Smucker, Lloyd [R-PA-11]PA

Cosponsors

Democrat12%
Republican4998%

Democrat:Rep. Bishop, Sanford D. [D-GA-2]GA
Republican:Rep. Hunt, Wesley [R-TX-38]TX
Republican:Rep. Jordan, Jim [R-OH-4]OH
Republican:Rep. James, John [R-MI-10]MI
Republican:Rep. Biggs, Andy [R-AZ-5]AZ
Republican:Rep. Gonzales, Tony [R-TX-23]TX
Republican:Rep. Knott, Brad [R-NC-13]NC
Republican:Rep. DesJarlais, Scott [R-TN-4]TN
Republican:Rep. Biggs, Sheri [R-SC-3]SC
Republican:Rep. Norman, Ralph [R-SC-5]SC
Republican:Rep. Stefanik, Elise M. [R-NY-21]NY
Republican:Rep. Harris, Andy [R-MD-1]MD
Republican:Rep. Baumgartner, Michael [R-WA-5]WA
Republican:Rep. Tiffany, Thomas P. [R-WI-7]WI
Republican:Rep. Hurd, Jeff [R-CO-3]CO
Republican:Rep. Harrigan, Pat [R-NC-10]NC
Republican:Rep. Evans, Gabe [R-CO-8]CO
Republican:Rep. Onder, Robert [R-MO-3]MO
Republican:Rep. Dunn, Neal P. [R-FL-2]FL
Republican:Rep. Shreve, Jefferson [R-IN-6]IN
Republican:Rep. Mann, Tracey [R-KS-1]KS
Republican:Rep. Simpson, Michael K. [R-ID-2]ID
Republican:Rep. Aderholt, Robert B. [R-AL-4]AL
Republican:Rep. Latta, Robert E. [R-OH-5]OH
Republican:Rep. Goldman, Craig [R-TX-12]TX
Republican:Rep. Pfluger, August [R-TX-11]TX
Republican:Rep. Turner, Michael R. [R-OH-10]OH
Republican:Rep. Messmer, Mark [R-IN-8]IN
Republican:Rep. Palmer, Gary J. [R-AL-6]AL
Republican:Rep. Rose, John W. [R-TN-6]TN
Republican:Rep. Flood, Mike [R-NE-1]NE
Republican:Rep. Womack, Steve [R-AR-3]AR
Republican:Rep. Self, Keith [R-TX-3]TX
Republican:Rep. Ogles, Andrew [R-TN-5]TN
Republican:Rep. Westerman, Bruce [R-AR-4]AR
Republican:Rep. Obernolte, Jay [R-CA-23]CA
Republican:Rep. Lee, Laurel M. [R-FL-15]FL
Republican:Rep. Fedorchak, Julie [R-ND-At Large]ND
Republican:Rep. Carey, Mike [R-OH-15]OH
Republican:Rep. Rogers, Harold [R-KY-5]KY
Republican:Rep. Burchett, Tim [R-TN-2]TN
Republican:Rep. Gill, Brandon [R-TX-26]TX
Republican:Rep. Finstad, Brad [R-MN-1]MN
Republican:Rep. Wagner, Ann [R-MO-2]MO
Republican:Rep. Moore, Blake D. [R-UT-1]UT
Republican:Rep. Bergman, Jack [R-MI-1]MI
Republican:Rep. Higgins, Clay [R-LA-3]LA
Republican:Rep. Luttrell, Morgan [R-TX-8]TX
Republican:Rep. Thompson, Glenn [R-PA-15]PA
Republican:Rep. Fitzgerald, Scott [R-WI-5]WI

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Classification

Policy area

Taxation

Track Main Street Tax Certainty Act as it moves through Congress