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H.R. 8559 117th Congress House

Small Business Owner Tax Relief Act of 2022

Official title: To amend the Internal Revenue Code of 1986 to provide tax relief for certain small business owners, to impose a tax on the repurchase of corporate stock, and for other purposes.

Introduced: July 28, 2022 Introduced by: Angie Craig Democratic · Minnesota See on congress.gov
Taxation
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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
Jul 28, 2022
Referred to the House Committee on Ways and Means.
Jul 28, 2022
Introduced in House
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 Latest action July 28, 2022

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Small Business Owner Tax Relief Act of 2022

This bill increases the tax deduction for the payroll taxes of small businesses and imposes an excise tax on corporations for their stock repurchases.

The bill allows self-employed taxpayers earning less than $400,000 in a taxable year to deduct three-quarters (currently, one-half) of their payroll taxes.

The bill also imposes an excise tax of 0.8% on the fair market value of any stock of a publicly traded domestic corporation that is repurchased by the corporation during the taxable year.

 Related & companion bills 2
  • HR 5376 An act to provide for reconciliation pursuant to title II of S. Con. Res. 14.
  • S 4459 Student Debt Relief and College Affordability Act
 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. 8559: Small Business Owner Tax Relief Act of 2022. 117th Congress. Open America. https://openamerica.io/bill/117-HR-8559/
MLA
"H.R. 8559: Small Business Owner Tax Relief Act of 2022." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-8559/.
Bluebook (legal)
H.R. 8559, 117th Cong. (2026), https://openamerica.io/bill/117-HR-8559/.
Markdown link
[H.R. 8559: Small Business Owner Tax Relief Act of 2022](https://openamerica.io/bill/117-HR-8559/)
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