1. Short title This Act may be cited as the Small Business Prosperity Act of 2023 . 2. Increase and expansion of deduction for qualified business income (a) Deduction made permanent Section 199A of the Internal Revenue Code of 1986 is amended by striking subsection (i). (b) Deduction To achieve a top rate on qualified business income of 21 percent Subsections (a)(2) and (b)(1)(B) of section 199A of such Code are each amended by striking 20 percent and inserting 43 percent (47 percent in the case of any taxable year beginning after December 31, 2025) . (c) Repeal of limitation based on W–2 wages paid with respect to the trade or business, top rate on qualified business income Section 199A(b)(2) of such Code is amended to read as follows: (2) Determination of deductible amount for each trade or business The amount determined under this paragraph with respect to any qualified trade or business is 43 percent (47 percent in the case of any taxable year beginning after December 31, 2025) of the taxpayer’s qualified business income with respect to the qualified trade or business. . (d) Repeal of exclusion of specified service trades or businesses Section 199A(d) of such Code is amended to read as follows: (d) Qualified trade or business For purposes of this section, the term qualified trade or business means any trade or business other than the trade or business of performing services as an employee. . (e) Conforming amendments (1) Section 199A(b) of such Code is amended— (A) by striking paragraphs (3), (4), and (6), and redesignating paragraphs (5) and (7) as paragraphs (3) and (4), respectively, and (B) by striking the lesser of— and all that follows in paragraph (4) (as so redesignated) and inserting 9 percent of so much of the qualified business income with respect to such trade or business as is properly allocable to qualified payments received from such cooperative . (2) Section 199A(e) of such Code is amended by striking paragraph (2). (3) Section 199A(f)(1) of such Code is amended to read as follows: (1)