Politiparty
Politiparty

118th Congress Taxation

H.R. 4721: Main Street Tax Certainty Act

Introduced

  1. Introduced (completed)Jul 18, 2023
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Jul 18, 2023

This bill makes permanent the tax deduction for qualified business income. (Under current law, the deduction expires after December 31, 2025.)

Qualified business income is defined as the net amount of qualified items of income, gain, deduction and loss with respect to any trade or business, excluding capital gains or losses, dividends, interest income, or income earned outside the U.S.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

194

Bipartisan support.

Who scored on this bill

24 points earned
  1. 1Lloyd Smucker R-PA SponsorDrew cross-party cosponsors, reached a cosponsor milestone, introduced5 events+24
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Lloyd Smucker

History

  1. Jul 18, 2023Introduced in the House by Lloyd Smucker.
Show the full action history (2 actions)
  1. Jul 18, 2023Introduced in House
  2. Jul 18, 2023Referred to the House Committee on Ways and Means.