SENATE 1706118th CongressRead twice and referred to the Committee on Finance.
Main Street Tax Certainty Act
- Last Action
- 5/18/2023
Actions
- 2023-05-18Read twice and referred to the Committee on Finance.
- 2023-05-18Introduced in Senate
CRS Summary
As of 2023-05-18 (00)
Main Street Tax Certainty Act
This bill makes permanent the tax deduction for qualified business income. (Under current law, the deduction expires after December 31, 2025.)
Qualified business income is defined as the net amount of qualified items of income, gain, deduction and loss with respect to any trade or business, excluding capital gains or losses, dividends, interest income, or income earned outside the U.S.
Cosponsors (20)
- John Barrasso (R-WY)
- Bill Cassidy (R-LA)
- Chuck Grassley (R-IA)
- Marsha Blackburn (R-TN)
- Tim Scott (R-SC)
- Thomas Tillis (R-NC)
- Roger Marshall (R-KS)
- James Risch (R-ID)
- Kevin Cramer (R-ND)
- Katie Britt (R-AL)
- Mike Braun (R-IN)
- Bill Hagerty (R-TN)
- Ted Cruz (R-TX)
- Roger Wicker (R-MS)
- Cynthia Lummis (R-WY)
- Ted Budd (R-NC)
- Jerry Moran (R-KS)
- Mike Lee (R-UT)
- John Kennedy (R-LA)
- Pete Ricketts (R-NE)
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.