Main Street Tax Certainty Act

This bill would make the “qualified business income” (QBI) tax deduction permanent. Today, people, estates, and trusts can generally deduct up to 20% of their QBI, plus certain REIT dividends and publicly traded partnership income, but that deduction is set to end after December 31, 2025. The bill removes that end date so the deduction continues going forward (some limits still apply). The change would take effect for tax years that start after December 31, 2025.

Key points:

• Who is affected: Individuals, estates, and trusts with qualified business income; also applies to certain REIT dividends and publicly traded partnership income (with limits).
• What changes: The QBI deduction becomes permanent instead of expiring after 2025.
• When: Applies to tax years beginning after December 31, 2025.