H.R. 1381 · 117th Congress
Main Street Tax Certainty Act
- Stage
- In committee
- Sponsor
- Jason Smith
- Introduced
- 2021-02-25
- Latest action
- 2021-02-25 · Introduced in House
Summary
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.