Main Street Tax Certainty Act
Sponsored By: Senator Steve Daines
Introduced
Summary
This bill would make permanent the qualified business income (QBI) deduction that lets many individuals, estates, and trusts deduct up to 20% of qualifying business income. The QBI deduction currently expires after December 31, 2025. The bill would remove that sunset by striking subsection (i) of section 199A. It does not change the deduction's 20% rate, definitions, or existing wage and property limits.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Permanent pass-through business tax break
If enacted, this bill would make the pass-through business tax deduction (the QBI deduction) permanent. You would still use the same rules and limits to figure the deduction. The bill would not change deduction rates, wage (W-2) limits, or capital thresholds. The change would take effect upon enactment. This mainly helps sole proprietors, partners, and S corporation shareholders who claim the deduction.
Sponsors & CoSponsors
Sponsor
Steve Daines
MT • R
Cosponsors
Chuck Grassley
IA • R
Sponsored 1/23/2025
Kevin Cramer
ND • R
Sponsored 1/23/2025
Jerry Moran
KS • R
Sponsored 1/23/2025
Marsha Blackburn
TN • R
Sponsored 1/23/2025
Mike Rounds
SD • R
Sponsored 1/23/2025
Shelley Capito
WV • R
Sponsored 1/23/2025
Pete Ricketts
NE • R
Sponsored 1/23/2025
Katie Britt
AL • R
Sponsored 1/23/2025
James Risch
ID • R
Sponsored 1/23/2025
Eric Schmitt
MO • R
Sponsored 1/23/2025
Roger Wicker
MS • R
Sponsored 1/23/2025
Cynthia Lummis
WY • R
Sponsored 1/23/2025
Cindy Hyde-Smith
MS • R
Sponsored 1/23/2025
Tommy Tuberville
AL • R
Sponsored 1/23/2025
Ted Cruz
TX • R
Sponsored 1/23/2025
James Lankford
OK • R
Sponsored 1/23/2025
John Hoeven
ND • R
Sponsored 1/23/2025
Thomas Tillis
NC • R
Sponsored 1/23/2025
Roger Marshall
KS • R
Sponsored 1/23/2025
James Justice
WV • R
Sponsored 1/23/2025
Tim Sheehy
MT • R
Sponsored 1/23/2025
Deb Fischer
NE • R
Sponsored 1/23/2025
Joni Ernst
IA • R
Sponsored 1/23/2025
Bill Cassidy
LA • R
Sponsored 1/23/2025
John Thune
SD • R
Sponsored 1/23/2025
Ted Budd
NC • R
Sponsored 1/23/2025
Rick Scott
FL • R
Sponsored 1/23/2025
Bill Hagerty
TN • R
Sponsored 1/23/2025
John Barrasso
WY • R
Sponsored 1/23/2025
Todd Young
IN • R
Sponsored 1/23/2025
John Kennedy
LA • R
Sponsored 1/23/2025
Tim Scott
SC • R
Sponsored 1/23/2025
Jim Banks
IN • R
Sponsored 1/23/2025
Tom Cotton
AR • R
Sponsored 1/23/2025
John Curtis
UT • R
Sponsored 1/23/2025
Dan Sullivan
AK • R
Sponsored 1/23/2025
Lindsey Graham
SC • R
Sponsored 1/23/2025
John Boozman
AR • R
Sponsored 1/24/2025
Bernie Moreno
OH • R
Sponsored 1/24/2025
Jon Husted
OH • R
Sponsored 1/27/2025
David McCormick
PA • R
Sponsored 1/28/2025
Mike Lee
UT • R
Sponsored 1/28/2025
Josh Hawley
MO • R
Sponsored 4/3/2025
Susan Collins
ME • R
Sponsored 4/29/2025
John Cornyn
TX • R
Sponsored 5/14/2025
Roll Call Votes
No roll call votes available for this bill.
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