200915 h r 216 s 1149 mainstreettaxcertaintyact congress
September 15, 2020
TO THE MEMBERS OF THE UNITED STATES CONGRESS:
The U.S. Chamber of Commerce strongly supports H.R. 216 and S. 1149, the “Main Street Tax Certainty Act,” and urges Members to cosponsor this legislation, which would make permanent the §199A percent qualified business income deduction. -Members who cosponsor this bill will receive credit for the Leadership component of their “How They Voted” rating.
This bipartisan legislation would ensure permanent tax relief for the millions of Main Street employers organized as passthrough entities such as S corporations, partnerships and sole proprietorships.
Despite the important role these employers play in our economy, they face tremendous uncertainty as the §199A deduction is scheduled to expire at the end of 2025. Like all American employers, these businesses already face significant economic hardship due to the ongoing Coronavirus pandemic. It is imperative that Congress acts to eliminate this additional uncertainty that further threatens the economic growth of these employers.
The Chamber urges you to cosponsor this important legislation.
Suzanne P. Clark