CARES Windfall for the Wealthiest Repeal Act

Summary

Official

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.

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Bill Progress

Bill has been introduced and assigned a number

Introduced(2/2/21)

Committee

Passed House

Passed Senate

President

Law

Sponsor

Mr. Doggett

House (D) Texas – 37

Cosponsors (29)

Grijalva

(D) AZ

BLUMENAUER

(D) OR

Cicilline

(D) RI

DEFAZIO

(D) OR

DeLauro

House (D) Connecticut

Hayes

House (D) Connecticut

Connolly

(D) VA

Beyer

House (D) Virginia

DeGette

House (D) Colorado

Pocan

House (D) Wisconsin

Latest Action

Referred to the House Committee on Ways and Means.

Feb 2, 2021