119th Congress
S. 213
Main Street Tax Certainty Act
- Introduced
- In committee
- Passed Senate
- Passed House
- To President
- Became law
- Sponsor
- Steve Daines(R-MT)
- Introduced
- Jan 23, 2025
- Policy area
- Taxation
- Committees
- Senate Committee on Finance
- Official text
- Introduced in Senate · Congress.gov page
Cosponsors (45)
Original cosponsors (37)
- Bill Cassidy (R-LA)
- Bill Hagerty (R-TN)
- Chuck Grassley (R-IA)
- Cindy Hyde-Smith (R-MS)
- Cynthia M. Lummis (R-WY)
- Dan Sullivan (R-AK)
- Deb Fischer (R-NE)
- Eric Schmitt (R-MO)
- James C. Justice (R-WV)
- James E. Risch (R-ID)
- James Lankford (R-OK)
- Jerry Moran (R-KS)
- Jim Banks (R-IN)
- John Barrasso (R-WY)
- John Hoeven (R-ND)
- John Kennedy (R-LA)
- John R. Curtis (R-UT)
- John Thune (R-SD)
- Joni Ernst (R-IA)
- Katie Boyd Britt (R-AL)
- Kevin Cramer (R-ND)
- Marsha Blackburn (R-TN)
- Mike Rounds (R-SD)
- Pete Ricketts (R-NE)
- Rick Scott (R-FL)
- Roger F. Wicker (R-MS)
- Roger Marshall (R-KS)
- Shelley Moore Capito (R-WV)
- Ted Budd (R-NC)
- Ted Cruz (R-TX)
- Thom Tillis (R-NC)
- Tim Scott (R-SC)
- Tim Sheehy (R-MT)
- Todd Young (R-IN)
- Tom Cotton (R-AR)
- Tommy Tuberville (R-AL)
- G000359
Added later (8)
- Bernie Moreno (R-OH) · Jan 24, 2025
- John Boozman (R-AR) · Jan 24, 2025
- Jon Husted (R-OH) · Jan 27, 2025
- David McCormick (R-PA) · Jan 28, 2025
- Mike Lee (R-UT) · Jan 28, 2025
- Josh Hawley (R-MO) · Apr 3, 2025
- Susan M. Collins (R-ME) · Apr 29, 2025
- John Cornyn (R-TX) · May 14, 2025
Summary
Summary by the Congressional Research Service· describes the “Introduced in Senate” version
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.
Roll-call votes
No recorded votes on this bill.
Actions
- Jan 23, 2025 · Senate
Read twice and referred to the Committee on Finance. - Jan 23, 2025
Introduced in Senate