S 147
117th Congress
Senate
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:
Whitehouse, Sheldon
Democratic
· Rhode Island
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
Read twice and referred to the Committee on Finance.
Feb 2, 2021
Introduced in Senate
Plain-English summary
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
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1