<p>If the qualified business income deduction provided by the Tax Cuts and Jobs Act was permanently extended, $145 billion of corporate income and wages would shift to passthrough income in 2026, and up to $453 billion by 2040, assuming other TCJA provisions weren't also extended, the Urban-Brookings Tax Policy Center said in a July 15 report. </p>

TPC Examines Passthrough Income Deduction 

If the qualified business income deduction provided by the Tax Cuts and Jobs Act was permanently extended, $145 billion of corporate income and wages would shift to passthrough income in 2026, and up to $453 billion by 2040, assuming other TCJA provisions weren't also extended, the Urban-Brookings Tax Policy Center said in a July 15 report. 