The purpose of this legislation is to make a specific tax deduction permanent for certain types of business income. This deduction is known as the Qualified Business Income deduction, which was initially introduced as part of the tax reforms in 2017. The goal is to provide ongoing tax relief to small businesses and pass-through entities, such as sole proprietorships, partnerships, and S corporations. The key provision of this legislation is the amendment to the Internal Revenue Code that removes the expiration date for the Qualified Business Income deduction.