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HR 7795 117th Congress House Taxation Corporate finance and management Income tax deductions Small business Tax administration and collection, taxpayers Transfer and inheritance taxes

Small Business Prosperity Act of 2022

Introduced: May 17, 2022 Introduced by: Biggs, Andy Republican · Arizona See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 17, 2022
Referred to the House Committee on Ways and Means.
May 17, 2022
Introduced in House
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 Plain-English summary Congressional Research Service

Small Business Prosperity Act of 2022

This bill modifies 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.

The bill provides that a change in the organizational structure of a corporation is not a taxable event if there is no change among the owners, their ownership interests, or the assets of the organization,

The bill repeals the estate tax after 2022.

What's happening now May 17, 2022

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 7795: Small Business Prosperity Act of 2022. 117th Congress. Open America. https://openamerica.io/bill/117-HR-7795/
MLA
"H.R. 7795: Small Business Prosperity Act of 2022." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-7795/.
Bluebook (legal)
H.R. 7795, 117th Cong. (2026), https://openamerica.io/bill/117-HR-7795/.
Markdown link
[H.R. 7795: Small Business Prosperity Act of 2022](https://openamerica.io/bill/117-HR-7795/)
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