summary
Introduced
02/25/2021
02/25/2021
In Committee
02/25/2021
02/25/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income.
AI Summary
This bill, the Main Street Tax Certainty Act, aims to make permanent the deduction for qualified business income under Section 199A of the Internal Revenue Code of 1986. This deduction, which was previously set to expire, allows eligible businesses to deduct up to 20% of their qualified business income from their taxable income, providing tax relief for small businesses and pass-through entities.
Committee Categories
Budget and Finance
Sponsors (15)
Steve Daines (R)*,
John Barrasso (R),
Marsha Blackburn (R),
Roy Blunt (R),
Mike Braun (R),
Richard Burr (R),
Bill Cassidy (R),
James Inhofe (R),
John Neely Kennedy (R),
Cynthia Lummis (R),
Rand Paul (R),
Rob Portman (R),
Mike Rounds (R),
Tim Scott (R),
Roger Wicker (R),
Last Action
Read twice and referred to the Committee on Finance. (on 02/25/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/480/all-info |
| BillText | https://www.congress.gov/117/bills/s480/BILLS-117s480is.pdf |
| Bill | https://www.congress.gov/117/bills/s480/BILLS-117s480is.pdf.pdf |
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