HR 1381
117th Congress
House
Taxation
Income tax deductions
Tax administration and collection, taxpayers
Main Street Tax Certainty Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 25, 2021
Referred to the House Committee on Ways and Means.
Feb 25, 2021
Introduced in House
Plain-English 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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1