A coalition of pass-through businesses urged a House Ways and Means Committee tax team Thursday to make permanent a break for their businesses, which is set to expire at the end of 2025.
The 2017 tax law established a 20% deduction under Section 199A of the tax code on certain pass-through income, which benefits individuals, trusts, estates, owners of certain agriculture cooperatives, real estate investment trusts, and publicly traded partnerships. The deduction expires at the end of next year, and groups already have started a full-out lobbying push to keep the tax break.
“We ask that you protect these businesses ...
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