H.R. 2971 · 116th Congress
Freedom for Small Businesses Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BiggsSponsorNo cosponsors.
This bill revises the tax deduction for qualified business income to (1) make such deduction permanent, (2) limit to 21% the top tax rate on qualified business income, (3) repeal the limitation on the deduction based on amount of wages paid, and (4) revise the definition of qualified trade or business to mean any trade or business other than the trade of…
What it does: CRS summary · Introduced in House · May 23, 2019
Freedom for Small Businesses Act of 2019
This bill revises the tax deduction for qualified business income to (1) make such deduction permanent, (2) limit to 21% the top tax rate on qualified business income, (3) repeal the limitation on the deduction based on amount of wages paid, and (4) revise the definition of qualified trade or business to mean any trade or business other than the trade of business of performing services as an employee.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Freedom for Small Businesses Act of 2019
Latest action (May 23, 2019): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 23, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.