H.R. 2971 · 116th Congress
Freedom for Small Businesses Act of 2019
- Stage
- In committee
- Sponsor
- Andy Biggs
- Introduced
- 2019-05-23
- Latest action
- 2019-05-23 · Introduced in House
Summary
Freedom for Small Businesses Act of 2019
This bill revises the tax deduction for qualified business income to (1) make such deduction permanent, (2) limit to 21% the top tax rate on qualified business income, (3) repeal the limitation on the deduction based on amount of wages paid, and (4) revise the definition of qualified trade or business to mean any trade or business other than the trade of business of performing services as an employee.