Main Street Tax Certainty Act
What this could mean for your district
The Main Street Tax Certainty Act aims to make permanent the qualified business income tax deduction for individuals, estates, and trusts. • Local small businesses may benefit from the continued tax deduction, potentially improving their financial stability. • This could encourage investment in the district's economy, as business owners retain more earnings. • The permanence of the deduction may influence business planning and growth strategies within the community. • Tax implications for local real estate investments could also be affected, impacting property owners and investors. AI-generated from official bill summary; verify with bill text.
Bill details
Bill overview
A neutral overview based on official congressional sources.
Introduced in Senate
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.
Related votes
Roll calls that reference this bill in official data.
Primary sources
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