CARES Windfall for the Wealthiest Repeal Act
USA117th CongressS-147| Senate
| Updated: 2/2/2021
Sheldon Whitehouse
Democratic Senator
Rhode Island
Cosponsors (16)
Mazie K. Hirono (Democratic)Patrick J. Leahy (Democratic)Richard J. Durbin (Democratic)Edward J. Markey (Democratic)Jack Reed (Democratic)Elizabeth Warren (Democratic)Angus S. King (Independent)Amy Klobuchar (Democratic)Christopher Murphy (Democratic)Sherrod Brown (Democratic)Bernard Sanders (Independent)Brian Schatz (Democratic)Tammy Baldwin (Democratic)Cory A. Booker (Democratic)Jeff Merkley (Democratic)Richard Blumenthal (Democratic)
Finance Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Agricultural prices, subsidies, creditBusiness expensesIncome tax deductionsTax administration and collection, taxpayers
CARES Windfall for the Wealthiest Repeal Act
USA117th CongressS-147| Senate
| Updated: 2/2/2021
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.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Sheldon Whitehouse
Democratic Senator
Rhode Island
Cosponsors (16)
Mazie K. Hirono (Democratic)Patrick J. Leahy (Democratic)Richard J. Durbin (Democratic)Edward J. Markey (Democratic)Jack Reed (Democratic)Elizabeth Warren (Democratic)Angus S. King (Independent)Amy Klobuchar (Democratic)Christopher Murphy (Democratic)Sherrod Brown (Democratic)Bernard Sanders (Independent)Brian Schatz (Democratic)Tammy Baldwin (Democratic)Cory A. Booker (Democratic)Jeff Merkley (Democratic)Richard Blumenthal (Democratic)
Finance Committee
Taxation
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Agricultural prices, subsidies, creditBusiness expensesIncome tax deductionsTax administration and collection, taxpayers