In CommitteeFiled Apr 21, 2026
Sponsor: Rep. Kustoff, David [R-TN-8] (R)
Latest Action
Referred to the House Committee on Ways and Means.
Apr 21, 2026
Summary
The Small Business Tax Cut Act amends the tax code to increase the qualified business income (QBI) deduction from 20% to 23% for eligible taxpayers. It also expands the deduction to include qualified interest dividends from electing business development companies and adjusts income‑phase‑in limits. The changes take effect for tax years beginning after December 31, 2026.
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