United StatesMain Street Tax Certainty Act
What it does
This bill makes permanent the qualified business income (QBI) tax deduction.
More detail
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.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jan 23Introduced in HouseLatest
- Jan 23Referred to the House Committee on Ways and Means.Introduced