S.147: CARES Windfall for the Wealthiest Repeal Act

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Introduced Feb. 2, 2021
Latest Major Action Feb. 2, 2021

Bill Sponsor

Sheldon Whitehouse (D-R.I.)

Bill Cosponsors

16 (14 Democrats, 2 Independent Democrats)

Sherrod Brown (D-Ohio)
Elizabeth Warren (D-Mass.)
Tammy Baldwin (D-Wis.)
Richard Blumenthal (D-Conn.)
Angus King (ID-Maine)
Edward J. Markey (D-Mass.)
Richard J. Durbin (D-Ill.)
Jeff Merkley (D-Ore.)
Jack Reed (D-R.I.)
Cory Booker (D-N.J.)
Bernard Sanders (ID-Vt.)
Mazie K. Hirono (D-Hawaii)
Christopher S. Murphy (D-Conn.)
Patrick J. Leahy (D-Vt.)
Brian Schatz (D-Hawaii)
Amy Klobuchar (D-Minn.)

Bill Version

Introduced in Senate - Feb. 2, 2021

Bill 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.

(Source: Library of Congress)

Bill Actions

Date	Description
Feb. 2, 2021	Read twice and referred to the Committee on Finance.
Feb. 2, 2021	Introduced in the Senate by Sheldon Whitehouse (D-R.I.)

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Bill Summary

Introduced in the Senate by Sheldon Whitehouse (D-R.I.)