Legis Daily

Main Street Tax Certainty Act

USA117th CongressHR-1381| House 
| Updated: 2/25/2021
Jason Smith

Jason Smith

Republican Representative

Missouri

Cosponsors (99)
Doug LaMalfa (Republican)Diana Harshbarger (Republican)Barry Moore (Republican)Adrian Smith (Republican)David Kustoff (Republican)Yvette Herrell (Republican)John Katko (Republican)Tom Cole (Republican)Elise M. Stefanik (Republican)Trent Kelly (Republican)Eric A. "Rick" Crawford (Republican)Jake LaTurner (Republican)Steven M. Palazzo (Republican)Tim Burchett (Republican)Mike Johnson (Republican)Guy Reschenthaler (Republican)Ashley Hinson (Republican)Alexander X. Mooney (Republican)Jim Banks (Republican)Steve Stivers (Republican)Jefferson Van Drew (Republican)Scott Franklin (Republican)Rick W. Allen (Republican)Van Taylor (Republican)Victoria Spartz (Republican)Darin LaHood (Republican)Stephanie I. Bice (Republican)Claudia Tenney (Republican)Mariannette Miller-Meeks (Republican)Beth Van Duyne (Republican)Jackie Walorski (Republican)Young Kim (Republican)Pete Sessions (Republican)John R. Curtis (Republican)Jerry L. Carl (Republican)Billy Long (Republican)Andrew R. Garbarino (Republican)Scott Perry (Republican)Dan Newhouse (Republican)Lloyd Smucker (Republican)A. Drew Ferguson (Republican)Ronny Jackson (Republican)Daniel Meuser (Republican)Don Bacon (Republican)Andy Barr (Republican)James R. Baird (Republican)Carol D. Miller (Republican)Jodey C. Arrington (Republican)Doug Lamborn (Republican)Pat Fallon (Republican)Rodney Davis (Republican)Nancy Mace (Republican)Tom Rice (Republican)Mike D. Rogers (Republican)Richard Hudson (Republican)Kat Cammack (Republican)John Joyce (Republican)Cliff Bentz (Republican)Glenn Grothman (Republican)Ron Estes (Republican)Peter Meijer (Republican)W. Gregory Steube (Republican)John R. Moolenaar (Republican)Bruce Westerman (Republican)John H. Rutherford (Republican)James Comer (Republican)Scott Fitzgerald (Republican)Mark E. Green (Republican)Blaine Luetkemeyer (Republican)Henry Cuellar (Democratic)Larry Bucshon (Republican)Madison Cawthorn (Republican)Anthony Gonzalez (Republican)Chris Jacobs (Republican)Lisa C. McClain (Republican)Scott DesJarlais (Republican)Pete Stauber (Republican)Michael R. Turner (Republican)Debbie Lesko (Republican)John W. Rose (Republican)Tom Emmer (Republican)Bill Huizenga (Republican)Randy Feenstra (Republican)Robert E. Latta (Republican)Kevin Hern (Republican)Bill Posey (Republican)Ben Cline (Republican)Greg Pence (Republican)Josh Gottheimer (Democratic)Ralph Norman (Republican)Harold Rogers (Republican)Jack Bergman (Republican)Tracey Mann (Republican)Ted Budd (Republican)Jaime Herrera Beutler (Republican)Michelle Fischbach (Republican)Troy Balderson (Republican)Michael Guest (Republican)Vern Buchanan (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Main Street Tax Certainty Act 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.
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Timeline

Bill from Previous Congress

HR 116-216
Main Street Tax Certainty Act
Feb 25, 2021

Latest Companion Bill Action

S 117-480
Introduced in Senate
Feb 25, 2021
Introduced in House
Feb 25, 2021
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-216
    Main Street Tax Certainty Act


  • February 25, 2021

    Latest Companion Bill Action

    S 117-480
    Introduced in Senate


  • February 25, 2021
    Introduced in House


  • February 25, 2021
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • S 117-126: A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.
  • S 117-480: Main Street Tax Certainty Act
Income tax deductionsTax administration and collection, taxpayers

Main Street Tax Certainty Act

USA117th CongressHR-1381| House 
| Updated: 2/25/2021
Main Street Tax Certainty Act 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-216
Main Street Tax Certainty Act
Feb 25, 2021

Latest Companion Bill Action

S 117-480
Introduced in Senate
Feb 25, 2021
Introduced in House
Feb 25, 2021
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-216
    Main Street Tax Certainty Act


  • February 25, 2021

    Latest Companion Bill Action

    S 117-480
    Introduced in Senate


  • February 25, 2021
    Introduced in House


  • February 25, 2021
    Referred to the House Committee on Ways and Means.
Jason Smith

Jason Smith

Republican Representative

Missouri

Cosponsors (99)
Doug LaMalfa (Republican)Diana Harshbarger (Republican)Barry Moore (Republican)Adrian Smith (Republican)David Kustoff (Republican)Yvette Herrell (Republican)John Katko (Republican)Tom Cole (Republican)Elise M. Stefanik (Republican)Trent Kelly (Republican)Eric A. "Rick" Crawford (Republican)Jake LaTurner (Republican)Steven M. Palazzo (Republican)Tim Burchett (Republican)Mike Johnson (Republican)Guy Reschenthaler (Republican)Ashley Hinson (Republican)Alexander X. Mooney (Republican)Jim Banks (Republican)Steve Stivers (Republican)Jefferson Van Drew (Republican)Scott Franklin (Republican)Rick W. Allen (Republican)Van Taylor (Republican)Victoria Spartz (Republican)Darin LaHood (Republican)Stephanie I. Bice (Republican)Claudia Tenney (Republican)Mariannette Miller-Meeks (Republican)Beth Van Duyne (Republican)Jackie Walorski (Republican)Young Kim (Republican)Pete Sessions (Republican)John R. Curtis (Republican)Jerry L. Carl (Republican)Billy Long (Republican)Andrew R. Garbarino (Republican)Scott Perry (Republican)Dan Newhouse (Republican)Lloyd Smucker (Republican)A. Drew Ferguson (Republican)Ronny Jackson (Republican)Daniel Meuser (Republican)Don Bacon (Republican)Andy Barr (Republican)James R. Baird (Republican)Carol D. Miller (Republican)Jodey C. Arrington (Republican)Doug Lamborn (Republican)Pat Fallon (Republican)Rodney Davis (Republican)Nancy Mace (Republican)Tom Rice (Republican)Mike D. Rogers (Republican)Richard Hudson (Republican)Kat Cammack (Republican)John Joyce (Republican)Cliff Bentz (Republican)Glenn Grothman (Republican)Ron Estes (Republican)Peter Meijer (Republican)W. Gregory Steube (Republican)John R. Moolenaar (Republican)Bruce Westerman (Republican)John H. Rutherford (Republican)James Comer (Republican)Scott Fitzgerald (Republican)Mark E. Green (Republican)Blaine Luetkemeyer (Republican)Henry Cuellar (Democratic)Larry Bucshon (Republican)Madison Cawthorn (Republican)Anthony Gonzalez (Republican)Chris Jacobs (Republican)Lisa C. McClain (Republican)Scott DesJarlais (Republican)Pete Stauber (Republican)Michael R. Turner (Republican)Debbie Lesko (Republican)John W. Rose (Republican)Tom Emmer (Republican)Bill Huizenga (Republican)Randy Feenstra (Republican)Robert E. Latta (Republican)Kevin Hern (Republican)Bill Posey (Republican)Ben Cline (Republican)Greg Pence (Republican)Josh Gottheimer (Democratic)Ralph Norman (Republican)Harold Rogers (Republican)Jack Bergman (Republican)Tracey Mann (Republican)Ted Budd (Republican)Jaime Herrera Beutler (Republican)Michelle Fischbach (Republican)Troy Balderson (Republican)Michael Guest (Republican)Vern Buchanan (Republican)

Ways and Means Committee

Taxation

Related Bills

  • S 117-126: A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.
  • S 117-480: Main Street Tax Certainty Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Income tax deductionsTax administration and collection, taxpayers