H.R. 4721 · 118th Congress · 2023–2024
Main Street Tax Certainty Act
H.R. 4721 in the 118th Congress (2023–2024) was introduced on Jul 18, 2023, sponsored by Lloyd Smucker with 194 co-sponsors.
During the 118th Congress (2023–2024), Joe Biden was president, and Republicans held the House majority and Democrats the Senate majority.
- Status
- Introduced
- Introduced
- Jul 18, 2023
- Co-sponsors
- 194
- Policy area
- Taxation
What it does
Main Street Tax Certainty Act This bill makes permanent the tax deduction for qualified business income. (Under current law, the deduction expires after December 31, 2025.) Qualified business income is defined as the net amount of qualified items of income, gain, deduction and loss with respect to any trade or business, excluding capital gains or losses, dividends, interest income, or income earned outside the U.S.
Summary by the nonpartisan Congressional Research Service.
Sponsor
Lloyd Smucker (R-PA). Co-sponsors: 2 Democrats, 192 Republicans.
Where it stands
- IntroducedJul 18, 2023
- Passed the House—
- Passed the Senate—
- Sent to the President—
- Became law—
Latest action: Referred to the House Committee on Ways and Means. (Jul 18, 2023)
Other Taxation bills in the 118th Congress
- H.R. 1432: VETT Act
- H.R. 5863: Federal Disaster Tax Relief Act of 2023
- H.R. 3797: Paperwork Burden Reduction Act
- H.R. 3801: Employer Reporting Improvement Act
- H.R. 190: Saving Gig Economy Taxpayers Act
- H.R. 329: American Workforce Empowerment Act
- H.R. 531: Educational Choice for Children Act
- S. 596: Military Spouse Hiring Act
- H.R. 700: Supply Chain Disruptions Relief Act
- H.R. 812: Inflation Reduction Act of 2023
Committees
More
From GovInfo bill records, Congressional Research Service summaries, Voteview roll calls and lobbying reports.
Cite or embed this page
Capitol Receipts, “H.R. 4721 (118th Congress): Main Street Tax Certainty Act,” https://www.capitolreceipts.com/bill/118-hr-4721/main-street-tax-certainty-act (accessed 2026-10-14).