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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.
Introduced
Jan 23, 2025
Last Action
Jan 23, 2025
Session
119th Congress
Sponsors
1 primary · 45 co
Passage Probability
2% — Very Low
Introduced in Senate
Read twice and referred to the Committee on Finance.
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2%
Estimate based on legislative signals
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Upgrade to ProRead twice and referred to the Committee on Finance.