Legis Daily

Main Street Tax Certainty Act

USA117th CongressS-480| Senate 
| Updated: 2/25/2021
Steve Daines

Steve Daines

Republican Senator

Montana

Cosponsors (14)
Bill Cassidy (Republican)Mike Braun (Republican)Cynthia M. Lummis (Republican)Marsha Blackburn (Republican)James M. Inhofe (Republican)Roger F. Wicker (Republican)Rand Paul (Republican)Roy Blunt (Republican)Mike Rounds (Republican)Tim Scott (Republican)John Kennedy (Republican)John Barrasso (Republican)Rob Portman (Republican)Richard Burr (Republican)

Finance 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

S 116-1149
Main Street Tax Certainty Act
Feb 25, 2021

Latest Companion Bill Action

HR 117-1381
Introduced in House
Feb 25, 2021
Introduced in Senate
Feb 25, 2021
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 116-1149
    Main Street Tax Certainty Act


  • February 25, 2021

    Latest Companion Bill Action

    HR 117-1381
    Introduced in House


  • February 25, 2021
    Introduced in Senate


  • February 25, 2021
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 117-1381: Main Street Tax Certainty Act
  • 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.
Income tax deductionsTax administration and collection, taxpayers

Main Street Tax Certainty Act

USA117th CongressS-480| Senate 
| 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

S 116-1149
Main Street Tax Certainty Act
Feb 25, 2021

Latest Companion Bill Action

HR 117-1381
Introduced in House
Feb 25, 2021
Introduced in Senate
Feb 25, 2021
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 116-1149
    Main Street Tax Certainty Act


  • February 25, 2021

    Latest Companion Bill Action

    HR 117-1381
    Introduced in House


  • February 25, 2021
    Introduced in Senate


  • February 25, 2021
    Read twice and referred to the Committee on Finance.
Steve Daines

Steve Daines

Republican Senator

Montana

Cosponsors (14)
Bill Cassidy (Republican)Mike Braun (Republican)Cynthia M. Lummis (Republican)Marsha Blackburn (Republican)James M. Inhofe (Republican)Roger F. Wicker (Republican)Rand Paul (Republican)Roy Blunt (Republican)Mike Rounds (Republican)Tim Scott (Republican)John Kennedy (Republican)John Barrasso (Republican)Rob Portman (Republican)Richard Burr (Republican)

Finance Committee

Taxation

Related Bills

  • HR 117-1381: Main Street Tax Certainty Act
  • 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.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Income tax deductionsTax administration and collection, taxpayers