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Permanent Tax Deduction for Small Businesses: Relief for Entrepreneurs.

This act aims to make the tax deduction for qualified business income permanent. This means small business owners and entrepreneurs can expect more stable and predictable tax rules, potentially impacting their personal finances and business decisions.
Key points
Tax relief made permanent: The deduction for business income, which was set to expire, will become a permanent feature.
Support for small businesses: Entrepreneurs will gain greater certainty regarding their future tax burdens.
Changes take effect for tax years beginning after December 31, 2025.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_703
Sponsor: Rep. Smucker, Lloyd [R-PA-11]
Process start date: 2025-01-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Main Street Tax Certainty Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_703.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-01-23.

What are the main provisions?

Key points include:

  • Tax relief made permanent: The deduction for business income, which was set to expire, will become a permanent feature.
  • Support for small businesses: Entrepreneurs will gain greater certainty regarding their future tax burdens.
  • Changes take effect for tax years beginning after December 31, 2025.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Smucker, Lloyd [R-PA-11].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Economy