119th Congress Taxation
S. 213: Main Street Tax Certainty Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Marsha Blackburn R-TNOriginal
- John Barrasso R-WYOriginal
- Jim Banks R-INOriginal
- Ted Budd R-NCOriginal
- Katie Britt R-ALOriginal
- Shelley Capito R-WVOriginal
- Bill Cassidy R-LAOriginal
- Tom Cotton R-AROriginal
- Kevin Cramer R-NDOriginal
- Ted Cruz R-TXOriginal
- John Curtis R-UTOriginal
- Joni Ernst R-IAOriginal
- Deb Fischer R-NEOriginal
- Lindsey Graham R-SCOriginal
- Charles Grassley R-IAOriginal
- Bill Hagerty R-TNOriginal
- John Hoeven R-NDOriginal
- Cindy Hyde-Smith R-MSOriginal
- Jim Justice R-WVOriginal
- John Kennedy R-LAOriginal
- Cynthia Lummis R-WYOriginal
- James Lankford R-OKOriginal
- Jerry Moran R-KSOriginal
- Roger Marshall R-KSOriginal
- James Risch R-IDOriginal
- Mike Rounds R-SDOriginal
- Pete Ricketts R-NEOriginal
- Tim Scott R-SCOriginal
- Dan Sullivan R-AKOriginal
- Rick Scott R-FLOriginal
- Eric Schmitt R-MOOriginal
- Tim Sheehy R-MTOriginal
- John Thune R-SDOriginal
- Tommy Tuberville R-ALOriginal
- Thom Tillis R-NCOriginal
- Roger Wicker R-MSOriginal
- Todd Young R-INOriginal
- John Boozman R-AR
- Bernie Moreno R-OH
- Jon Husted R-OH
- Mike Lee R-UT
- Dave McCormick R-PA
- Joshua Hawley R-MO
- Susan Collins R-ME
- John Cornyn R-TX
Who scored on this bill
- 1Steve Daines SponsorReached a cosponsor milestone, introduced2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.
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History
- Introduced in the Senate by Steve Daines.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.