HR 696 117th Congress House Taxation Agricultural prices, subsidies, credit Business expenses Income tax deductions Tax administration and collection, taxpayers

CARES Windfall for the Wealthiest Repeal Act

Introduced: February 2, 2021 Introduced by: Doggett, Lloyd Democratic · Texas See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 2, 2021

Referred to the House Committee on Ways and Means.

Feb 2, 2021

Introduced in House

Plain-English summary Congressional Research Service

CARES Windfall for the Wealthiest Repeal Act

This bill restores and makes permanent the limitation on excess businesses losses of noncorporate taxpayers. It also allows taxpayers a carryback of their net operating losses arising in 2019 and 2020.

What's happening now February 2, 2021

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1