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- S.2115
S.2115: A bill to amend the Internal Revenue Code of 1986 to disallow any deduction for punitive damages, and for other purposes.
About This Bill
- Introduced Nov. 9, 2017
- Latest Major Action Nov. 9, 2017
- See the four similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
4 (All Democrats)
Bill Version
- Introduced in Senate - Nov. 9, 2017
Bill Summary
This bill amends the Internal Revenue Code to: (1) deny a tax deduction for any amount paid or incurred for punitive damages in connection with any judgment in, or settlement of, any legal action between private parties; and (2) include any amount paid as punitive damages in gross income for income tax purposes.
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Bill Actions
| Date | Description |
|---|---|
| Nov. 9, 2017 |
Read twice and referred to the Committee on Finance.
|
| Nov. 9, 2017 |
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S7158)
|
| Nov. 9, 2017 |
Introduced in the Senate by Patrick J. Leahy (D-Vt.) |