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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.

Senate Actions

IntroReferral
Jan. 23 2025	Read twice and referred to the Committee on Finance.

Library of Congress Actions

IntroReferral
Jan. 23 2025	Introduced in Senate

Senate bill S213-119

Main Street Tax Certainty Act

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