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HOUSE 703119th CongressReferred to the House Committee on Oversight and Government Reform.

Expressing support for the designation of the week of September 11 through September 17, 2025, as "Patriot Week".

Last Action
9/11/2025

Actions

  • 2025-01-23Referred to the House Committee on Ways and Means.
  • 2025-01-23Introduced in House
  • 2025-01-23Introduced in House

CRS Summary

As of 2025-01-23 (00)

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.

Cosponsors (20)

  • Mike Kelly (R-PA)
  • Darin LaHood (R-IL)
  • Beth Van Duyne (R-TX)
  • Vern Buchanan (R-FL)
  • Carol Miller (R-WV)
  • Randy Feenstra (R-IA)
  • Gregory Murphy (R-NC)
  • Pete Stauber (R-MN)
  • John Joyce (R-PA)
  • Mike Bost (R-IL)
  • Dan Crenshaw (R-TX)
  • Daniel Meuser (R-PA)
  • Jake Ellzey (R-TX)
  • Randy Weber (R-TX)
  • Maria Salazar (R-FL)
  • Andrew Clyde (R-GA)
  • Scott Fitzgerald (R-WI)
  • David Rouzer (R-NC)
  • Kat Cammack (R-FL)
  • Brad Finstad (R-MN)
Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.