S. 480
Referred to CommitteeMain Street Tax Certainty Act
Latest Action
Read twice and referred to the Committee on Finance.
2/25/2021 • Senate
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.
Introduced in Senate • 2/25/2021
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (15)
Party Breakdown
Sponsor
Cosponsors (14)
Bill Journey
Originated in the Senate
Introduced
February 25, 2021
Read twice and referred to the Committee on Finance.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Related Bills (4)
H.R. 1381
Main Street Tax Certainty Act
S. 126
A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.
S. 1149
Main Street Tax Certainty Act
S. 1706
Main Street Tax Certainty Act