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Main Street Tax Certainty Act

Bill Number
H.R. 703
Origin Chamber
House
Congress
119th Congress, Session 1
Policy Area
Taxation
Status
Introduced
Latest Action
2025-01-23: Referred to the House Committee on Ways and Means.
Last Updated
2025-08-16T08:05:40Z

Official 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. Smucker, Lloyd [R-PA-11]

Cosponsors (192)

Rep. Kelly, Mike [R-PA-16], Rep. LaHood, Darin [R-IL-16], Rep. Van Duyne, Beth [R-TX-24], Rep. Buchanan, Vern [R-FL-16], Rep. Miller, Carol D. [R-WV-1], Rep. Feenstra, Randy [R-IA-4], Rep. Murphy, Gregory F. [R-NC-3], Rep. Stauber, Pete [R-MN-8], Rep. Joyce, John [R-PA-13], Rep. Bost, Mike [R-IL-12], Rep. Crenshaw, Dan [R-TX-2], Rep. Meuser, Daniel [R-PA-9], Rep. Ellzey, Jake [R-TX-6], Rep. Weber, Randy K. Sr. [R-TX-14], Rep. Salazar, Maria Elvira [R-FL-27], Rep. Clyde, Andrew S. [R-GA-9], Rep. Fitzgerald, Scott [R-WI-5], Rep. Rouzer, David [R-NC-7], Rep. Cammack, Kat [R-FL-3], Rep. Finstad, Brad [R-MN-1], Rep. Carter, Earl L. "Buddy" [R-GA-1], Rep. Ciscomani, Juan [R-AZ-6], Rep. Cline, Ben [R-VA-6], Rep. Fong, Vince [R-CA-20], Rep. Smith, Adrian [R-NE-3], Rep. Rulli, Michael A. [R-OH-6], Rep. Moolenaar, John R. [R-MI-2], Rep. Foxx, Virginia [R-NC-5], Rep. Lawler, Michael [R-NY-17], Rep. Green, Mark E. [R-TN-7], Rep. Rogers, Harold [R-KY-5], Rep. Bice, Stephanie I. [R-OK-5], Rep. Strong, Dale W. [R-AL-5], Rep. Guest, Michael [R-MS-3], Rep. Hudson, Richard [R-NC-9], Rep. Kean, Thomas H. [R-NJ-7], Rep. Rogers, Mike D. [R-AL-3], Rep. Nunn, Zachary [R-IA-3], Rep. Moran, Nathaniel [R-TX-1], Rep. Fallon, Pat [R-TX-4], Rep. Edwards, Chuck [R-NC-11], Rep. Moore, Riley [R-WV-2], Rep. Rutherford, John H. [R-FL-5], Rep. Hern, Kevin [R-OK-1], Rep. Estes, Ron [R-KS-4], Rep. Gottheimer, Josh [D-NJ-5], Rep. Moore, Blake D. [R-UT-1], Rep. Kustoff, David [R-TN-8], Rep. Grothman, Glenn [R-WI-6], Rep. Van Orden, Derrick [R-WI-3] and 142 more

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