Main Street Tax Certainty Act

II 118TH CONGRESS 1ST SESSION S. 1706 To amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income. IN THE SENATE OF THE UNITED STATES MAY 18, 2023 Mr. DAINES (for himself, Mr. BARRASSO, Mr. CASSIDY, Mr. GRASSLEY, Mrs. BLACKBURN, Mr. SCOTT of South Carolina, Mr. TILLIS, Mr. MARSHALL, Mr. RISCH, Mr. CRAMER, Mrs. BRITT, Mr. BRAUN, Mr. HAGERTY, Mr. CRUZ, and Mr. WICKER) 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 Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Main Street Tax Cer- 4 tainty Act’’. 5 VerDate Sep 11 2014 04:09 Jun 02, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1706.IS S1706 kjohnson on DSK79L0C42PROD with BILLS 2 •S 1706 IS SEC. 2. DEDUCTION FOR QUALIFIED BUSINESS INCOME 1 MADE PERMANENT. 2 Section 199A of the Internal Revenue Code of 1986 3 is amended by striking subsection (i). 4 Æ VerDate Sep 11 2014 04:09 Jun 02, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S1706.IS S1706 kjohnson on DSK79L0C42PROD with BILLS