US HB2971 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on May 23 2019 - 25% progression, died in committee
Action: 2019-05-23 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 23 2019 - 25% progression, died in committee
Action: 2019-05-23 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
Freedom for Small Businesses Act of 2019
Sponsors
| Rep. Andy Biggs [R-AZ] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-05-23 | House | Referred to the House Committee on Ways and Means. |
| 2019-05-23 | House | Introduced in House |
Same As/Similar To
HB4947 (Related) 2019-10-31 - Referred to the House Committee on Ways and Means.
HB6396 (Related) 2020-09-30 - Referred to the Subcommittee on Health.
HB6396 (Related) 2020-09-30 - Referred to the Subcommittee on Health.
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/2971/all-info |
| Text | https://www.congress.gov/116/bills/hr2971/BILLS-116hr2971ih.pdf |
