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S 213
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Main Street Tax Certainty Act

To amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income.

Introduced Jan 23, 2025

Latest action (Jan 23, 2025) Read twice and referred to the Committee on Finance.

Referred to
Finance Committee
Policy area
Taxation
Issues
Economy & Taxes

Summary

The bill amends the Internal Revenue Code to make permanent the deduction for qualified business income (QBI), which is currently scheduled to expire at the end of 2025. The QBI deduction, established in the Tax Cuts and Jobs Act of 2017, allows owners of pass-through business entities such as sole proprietorships, partnerships, and S-corporations to deduct up to 20% of their qualified business income from their taxable income. The bill accomplishes this by striking subsection (i) of Section 199A, which contains the expiration or sunset provision that would otherwise cause the deduction to terminate. Under current law, without this change, the QBI deduction would expire and businesses would no longer be able to claim the deduction beginning in tax year 2026. Making the deduction permanent would provide ongoing tax benefits to qualifying business owners and eliminate the need for Congress to periodically renew the provision.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
45 cosponsors

Actions (2)
  1. Jan 23, 2025 Read twice and referred to the Committee on Finance. · senate
  2. Jan 23, 2025 Introduced in Senate

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • HR 703 — Main Street Tax Certainty Act · Introduced Jan 23, 2025 · Cong. 119 83%
  • S 187 — ALIGN Act · Introduced Jan 22, 2025 · Cong. 119 76%
  • S 2358 — IRS Accountability and Taxpayer Protection Act · Introduced Jul 21, 2025 · Cong. 119 74%
  • HR 3967 — CREATE JOBS Act · Introduced Jun 12, 2025 · Cong. 119 74%
  • S 2056 — CREATE JOBS Act · Introduced Jun 12, 2025 · Cong. 119 74%
  • S 2530 — CREATE Act · Introduced Jul 30, 2025 · Cong. 119 74%

Full text

IN THE SENATE OF THE UNITED STATES

January 23, 2025

Mr. Daines (for himself, Mr. Grassley, Mr. Cramer, Mr. Moran, Mrs. Blackburn, Mr. Rounds, Mrs. Capito, Mr. Ricketts, Mrs. Britt, Mr. Risch, Mr. Schmitt, Mr. Wicker, Ms. Lummis, Mrs. Hyde-Smith, Mr. Tuberville, Mr. Cruz, Mr. Lankford, Mr. Hoeven, Mr. Tillis, Mr. Marshall, Mr. Justice, Mr. Sheehy, Mrs. Fischer, Ms. Ernst, Mr. Cassidy, Mr. Thune, Mr. Budd, Mr. Scott of Florida, Mr. Hagerty, Mr. Barrasso, Mr. Young, Mr. Kennedy, Mr. Scott of South Carolina, Mr. Banks, Mr. Cotton, Mr. Curtis, Mr. Sullivan, and Mr. Graham) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the “Main Street Tax Certainty Act”.

SEC. 2. DEDUCTION FOR QUALIFIED BUSINESS INCOME MADE PERMANENT.

Section 199A of the Internal Revenue Code of 1986 is amended by striking subsection (i). <all>

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