HR 703referred119th Congress

Main Street Tax Certainty Act

Introduced Jan 23, 2025House billPolicy area: TaxationLast action Jan 23, 2025Sponsor: Lloyd Smucker(R-PA)

taxTaxation

Ways and Means Committee

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Official summaryUpdated Jan 23, 2025

What the bill does

Main Street Tax Certainty Act This bill makes permanent the qualified business income (QBI) tax deduction. Under current law, individuals, estates, and trusts may deduct the lower of (1) 20% of QBI from a qualified business, qualified real estate investment trust dividends, and qualified publicly traded partnership income; or (2) 20% of taxable income less net capital gain. (Some limitations apply.) However, under current law, the QBI tax deduction expires after December 31, 2025.

Latest official action

Referred to the House Committee on Ways and Means.

120

Lobbying Filings Citing It

$102.5M

Reported on Those Filings, All Issues

Lobbying Clients

Recorded Votes

Timeline

Jan 23, 2025bill

Bill introduced

Apr 21, 2025lobbying

Lobbying filed by CHAMBER OF COMMERCE OF THE U.S.A.

Apr 21, 2025lobbying

Lobbying filed by NATIONAL ASSOCIATION OF REALTORS

Jul 17, 2025lobbying

Lobbying filed by NFIB (NATIONAL FEDERATION OF INDEPENDENT BUSINESS)

Jul 21, 2025lobbying

Lobbying filed by CHAMBER OF COMMERCE OF THE U.S.A.

Jul 21, 2025lobbying

Official Congressional Actions

Jan 23, 2025IntroReferral

Introduced in House

View official action

Jan 23, 2025IntroReferral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

View official action

Jan 23, 2025IntroReferral

Introduced in House

View official action

Lobbying Activity

Registrant	Client	Amount	Filed	Period	Issues
CHAMBER OF COMMERCE OF THE U.S.A.	CHAMBER OF COMMERCE OF THE U.S.A.	$19.3M	Jul 21, 2025	2025Q2	AERAUTAVI
CHAMBER OF COMMERCE OF THE U.S.A.	CHAMBER OF COMMERCE OF THE U.S.A.	$19.3M	Apr 21, 2025	2025Q1	ENVFINFOR
NATIONAL ASSOCIATION OF REALTORS

About this page

The lobbying table lists Senate LDA quarterly reports (LD-2) that cite this bill by number and cover a quarter of the 119th Congress. An LD-2 names a bill as “H.R. 1234” with no Congress, so a report on another Congress, which can only concern a different bill with the same number, is left out, even when it was filed after this Congress began. The amount is what the registrant reported for the whole filing, across every issue on it, not spending on this bill. Official actions and the bill summary come from Congress.gov, and votes from the roll-call record. This page no longer pairs the bill with members' stock trades: matching lobbying clients to traded companies by name, and trades to a bill by date, is not something the records establish.