# 114-hr-5374: Bring Small Businesses Back Tax Reform Act

114-hr-5374, Bring Small Businesses Back Tax Reform Act, is a 114th Congress bill sponsored by Rep. Hultgren, Randy [R-IL-14] (R-IL); status Referred to the House Committee on Ways and Means. (as of 2025-11-18).

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- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 114-hr-5374
- Congress: 114
- Title: Bring Small Businesses Back Tax Reform Act
- Status: Referred to the House Committee on Ways and Means.
- Introduced: 2016-05-27
- Sponsor: Rep. Hultgren, Randy [R-IL-14] (R-IL)
- Cosponsors: 4
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Bring Small Businesses Back Tax Reform Act This bill amends the Internal Revenue Code to establish new maximum individual tax rates for qualified business income that does not exceed $1 million (i.e., small business income). The maximum rates are: (1) 10% of such income not exceeding $150,000, and (2) 20% for income that exceeds $150,000 and is not more than $1 million. The rates apply to up to $1 million of qualified business income that is: (1) gross earnings derived by an individual from any active trade or business carried on by the individual, excluding deductions attributable to the trade or business; and (2) the taxpayer's distributive or pro rata share of pass-through income from entities such as a partnership or S corporation. Qualified business income does not include capital gains, interest, dividends, or royalties. For taxpayers that are not a corporation or a partnership with a corporation as a partner, the bill repeals the annual limitation on the election to deduct certain depreciable business assets. The bill also permits certain small businesses whose average gross receipts do not exceed $25 million (currently, $5 million) to use the cash accounting method without limitations and exempts such businesses from inventory rules.

## Cosponsors (4)

- Rep. Carter, Earl L. "Buddy" [R-GA-1] (R-GA), 2016-07-07T00:00:00.000Z
- Rep. Bishop, Mike [R-MI-8] (R-MI), 2016-07-18T00:00:00.000Z
- Rep. Smith, Jason [R-MO-8] (R-MO), 2016-09-15T00:00:00.000Z
- Rep. Coffman, Mike [R-CO-6] (R-CO), 2016-09-15T00:00:00.000Z

## Related bills

- 114-hr-4773: Protecting Workplace Advancement and Opportunity Act
- 114-hr-4336: An act to amend title 38, United States Code, to provide for the inurnment in Arlington National Cemetery of the cremated remains of certain persons whose serv…
- 114-hr-3929: Office of Strategic Services Congressional Gold Medal Act
- 114-hr-3459: Protecting Local Business Opportunity Act
- 114-hr-2992: Merchant Marine of World War II Congressional Gold Medal Act
- 114-hr-2903: Craft Beverage Modernization and Tax Reform Act of 2015

## Sources
- [114-hr-5374 on Congress.gov](https://www.congress.gov/bill/114th-congress/house-bill/5374)

## Related
- [114-hr-4773: Protecting Workplace Advancement and Opportunity Act](https://policyrisk.com/legislation/114-hr-4773)
- [114-hr-4336: An act to amend title 38, United States Code, to provide for the inurnment in A…](https://policyrisk.com/legislation/114-hr-4336)
- [114-hr-3929: Office of Strategic Services Congressional Gold Medal Act](https://policyrisk.com/legislation/114-hr-3929)
- [114-hr-3459: Protecting Local Business Opportunity Act](https://policyrisk.com/legislation/114-hr-3459)
- [114-hr-2992: Merchant Marine of World War II Congressional Gold Medal Act](https://policyrisk.com/legislation/114-hr-2992)
- [114-hr-2903: Craft Beverage Modernization and Tax Reform Act of 2015](https://policyrisk.com/legislation/114-hr-2903)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/114-hr-5374 (as of 2025-11-18).