Amendment · S.Amdt. 4539· Senate(119-SAMDT-4539)

S.Amdt. 4539

Age: 77 years

Oregon

Changes bill: 119-S-1383 — Veterans Accessibility Advisory Committee Act of 2025

This amendment was never taken up, and the bill finished without it. It was never voted on.

What this amendment would do

SA 4539, submitted by Mr. Wyden, aims to change the rate of deduction for qualified business income by amending Section 199A.

The amendment proposes the following changes:

It replaces the fixed 20 percent deduction with a deduction percentage.
The deduction percentage starts at 30 percent, but it is reduced (though not below 20 percent) based on the taxpayer's adjusted gross income:
- It is reduced by 1 percentage point for every $5,000 (or fraction thereof) that adjusted gross income exceeds $150,000.
- It is further reduced by 1 percentage point for every $250,000 (or fraction thereof) that adjusted gross income exceeds $50,000,000.
For married individuals filing separate returns, the thresholds are adjusted to $75,000 (instead of $150,000) and $25,000,000 (instead of $50,000,000), and the reduction is 1 percentage point for every $2,500 (instead of $5,000) and $125,000 (instead of $250,000).
It includes an adjustment for inflation for taxable years beginning after 2027 for specific dollar amounts.
These changes would apply to taxable years beginning after December 31, 2026.