House Bill 696
117th Congress(2021-2022)
CARES Windfall for the Wealthiest Repeal Act
Introduced
Introduced in House on Feb 2, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
696
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this 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.
February 2, 2021
02/02/2021
Referred to the House Committee on Ways and Means.
02/02/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:46:58 PM