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- S.480
S.480: Main Street Tax Certainty Act
About This Bill
- Introduced Feb. 25, 2021
- Latest Major Action Feb. 25, 2021
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
14 (All Republicans)
Bill Version
- Introduced in Senate - Feb. 25, 2021
Bill 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.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| Feb. 25, 2021 |
Read twice and referred to the Committee on Finance.
|
| Feb. 25, 2021 |
Introduced in the Senate by Steve Daines (R-Mont.) |