Bill Detail
H.R. 703
Congress: 119
Title
Main Street Tax Certainty Act
Summary
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.
Sponsor
Rep. Lloyd Smucker [R-PA-11]
Status
Referred to the House Committee on Ways and Means.
Status as of Jun 28, 4:41 PM · synced 1d ago
Introduced
2025-01-23
Data source mode: congress-gov
Bill Engagement
Main Street Tax Certainty Act This bill makes permanent the qualified business income (QBI) tax deduction.
Lobbyists on the case
- Chamber of Commerce of the U.s.a.5 filings · 48 lobs
- American Bankers Association5 filings · 19 lobs
- National Small Business Association5 filings · 4 lobs
- Associated General Contractors of America4 filings · 6 lobs
- Mehlman Consulting, Inc.3 filings · 24 lobs
- Independent Community Bankers of America3 filings · 9 lobs
- Rodrigo Alba2026 Q1
- William Boger2026 Q1
- Neil Bradley2026 Q1
- Naomi Camper2026 Q1
- Alex Catanese2026 Q1
- Suzanne Clark2026 Q1
- Edward Connor2026 Q1
- Kevin Courtois2026 Q1