A resolution expressing support for the designation of May 2025 as "Fallen Heroes Memorial Month".
- Last Action
- 5/8/2025
Actions
- 2025-01-23Read twice and referred to the Committee on Finance.
- 2025-01-23Introduced in Senate
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)
- Chuck Grassley (R-IA)
- Kevin Cramer (R-ND)
- Jerry Moran (R-KS)
- Marsha Blackburn (R-TN)
- Mike Rounds (R-SD)
- Shelley Capito (R-WV)
- Pete Ricketts (R-NE)
- Katie Britt (R-AL)
- James Risch (R-ID)
- Eric Schmitt (R-MO)
- Roger Wicker (R-MS)
- Cynthia Lummis (R-WY)
- Cindy Hyde-Smith (R-MS)
- Tommy Tuberville (R-AL)
- Ted Cruz (R-TX)
- James Lankford (R-OK)
- John Hoeven (R-ND)
- Thomas Tillis (R-NC)
- Roger Marshall (R-KS)
- James Justice (R-WV)
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.