OurCongressOfficial Public Records
Built to help voters verify how officials vote using official public records — non-partisan, no spin, no jargon.
← Back to bills
H.R. 703 · 119th Congress

Main Street Tax Certainty Act

In committee

See what this could mean for your district

Save your district in Account to view district-specific context for this bill.

Set my district

Bill details

Introduced: 1/23/2025
Current status: In committee
Bill ID: 119hr703
Latest official action: Referred to the House Committee on Ways and Means.

Bill overview

A neutral overview based on official congressional sources.

Introduced in House

Main Street Tax Certainty Act 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.

Source: BILLSUM · Summary date: 1/23/2025

Related votes

Roll calls that reference this bill in official data.

0 roll calls
No related roll calls found yet for this bill.

Primary sources

Official links to verify details. No interpretation.

Congress.gov bill →OurCongress methodology →

About this data

Non-partisan by design
OurCongress presents public records without political endorsement, interpretation, or advocacy.
Official sources
Data is sourced from official government records, including Congress.gov, GovInfo, the Clerk of the House, and the U.S. Senate.
AI-generated text
Some explanatory sections may be generated from official summaries and metadata to improve readability. They are not official government language and should be verified against primary sources.
Last updated: 1/23/2025Source: BILLSUMBill: 119hr703Learn more →