H.R. 116: Main Street Fairness Act
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H.R. 116: Main Street Fairness Act
115th Congress · introduced 2017-01-03 · Taxation · Latest: Referred to the House Committee on Ways and Means.
federal
Follow this bill, step by step
- Where it came from: introduced 2017-01-03 · official record
- Who proposed it: Rep. Buchanan, Vern [R-FL-16] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Main Street Fairness Act
Plain summary
Main Street Fairness Act This bill amends the Internal Revenue Code to prevent qualified business income attributed to individuals from being taxed at a higher rate than corporate income. (Under current law, business income attributed to individuals is taxed using individual income tax rates rather than the corporate tax rate.) Qualified business income is all items of income, deduction, loss, or credit properly attributable to the taxpayer from the active conduct of a trade or business, including: a partnership in which the taxpayer holds a capital or profits interest; an S corporation in which the taxpayer is a shareholder; a sole proprietorship or an entity otherwise disregarded as separate from its sole owner, in which the taxpayer is the sole owner; and a trust or estate in which the taxpayer is a beneficiary. Qualified business income does not include any item taken into account in determining net capital gain or the financial services income of partnerships.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
Main Street Fairness Act
Source: Congressional Research Service summary (Introduced in House)
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Buchanan, Vern [R-FL-16] · 5 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Robert J. Wittman (R-VA), Henry Cuellar (D-TX), Darren Soto (D-FL)
Sponsor's campaign money: Rep. Buchanan, Vern [R-FL-16] reported raising $932,898 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (2)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
- Capital gains
- The profit from selling something you own, such as stock or real estate, for more than you paid. A capital gains tax is a tax on that profit.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115hr116.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/hr>
Record fed-us-cong115-hr116 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115