Coalition Letter to Senator Daines and Congressman Smucker on the Main Street Tax Certainty Act of 2023
The undersigned business groups strongly support the introduction of your Main Street Tax Certainty Act of 2023, legislation to make permanent the 20-percent deduction for small- and individually-owned businesses (Section 199A). Your legislation would provide certainty to the millions of S corporations, partnerships and sole proprietorships that rely on the Section 199A deduction to remain competitive both here and overseas. Individually- and family-owned businesses organized as pass-throughs are the backbone of the American economy.