To the Members of the United States Congress:
The U.S. Chamber of Commerce strongly supports S. 1706/H.R. 4721, the “Main Street Tax Certainty Act,” which would make permanent the 20% qualified business income deduction, enacted as part of the Tax Cuts and Jobs Act (P.L. 115-97). These bills represent an important bipartisan, bicameral effort to ensure permanent tax relief for millions of employers organized as sole proprietorships, S corporations, and partnerships (“pass-through businesses”).
Section 199A of the Internal Revenue Code provides a 20% deduction for qualified business income to foster tax parity between pass-through businesses and C corporations, but it is currently scheduled to sunset at the end of 2025. The Main Street Tax Certainty Act would make section 199A permanent and provide small business owners the long-term stability that they need to plan, invest, and grow.
The Chamber looks forward to working with you to advance this important legislation.
Sincerely,
Neil L. Bradley
Executive Vice President, Chief Policy Officer,
and Head of Strategic Advocacy
U.S. Chamber of Commerce
