
Full profile: /officials/M001222
Source: Congress.gov · FEC
Members who have signed on to support this bill since introduction. Source: Congress.gov.
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Currently in
Previously
This bill would change how businesses can use financial losses to reduce their tax bills, likely allowing companies to carry losses forward or backward across different tax years to offset profits and lower their overall tax burden. The changes would primarily affect small and medium-sized businesses in service industries like hospitality, retail, and professional services that experience significant year-to-year income fluctuations. The bill aims to provide tax relief to these businesses during down years while they recover economically.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
Bills by the same sponsor or covering overlapping subjects.