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Permanent Tax Deduction for Small Businesses

This act aims to make the tax deduction for qualified business income permanent. This means that small business owners and entrepreneurs will have greater certainty in planning their finances, as a tax relief that was previously set to expire will become permanent. This could impact the financial stability of many businesses and encourage investment.
Key points
Tax Relief Made Permanent: The deduction for qualified business income (Section 199A) will become permanent instead of expiring.
Increased Certainty for Businesses: Entrepreneurs and small business owners will gain stability in future tax planning.
Potential Financial Benefits: This could mean lower tax burdens for many businesses, potentially supporting their growth and job creation.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_213
Sponsor: Sen. Daines, Steve [R-MT]
Process start date: 2025-01-23
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Summarized by: gemini-2.5-flash-preview-05-20
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_S_213.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

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 qualified business income (Section 199A) will become permanent instead of expiring.
  • Increased Certainty for Businesses: Entrepreneurs and small business owners will gain stability in future tax planning.
  • Potential Financial Benefits: This could mean lower tax burdens for many businesses, potentially supporting their growth and job creation.
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 Sen. Daines, Steve [R-MT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

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