HR 6579 · 116th Congress 2019–2021, ended

To amend the Internal Revenue Code of 1986 to allow certain taxpayers a 2-year carryback of net operating losses and to restore and make permanent the limitation on excess business losses of non-corporate taxpayers.

Introduced Apr 21, 2020 Originated House Sponsor Lloyd Doggett D-TX

Fact sheet Spreadsheet

Latest action · Apr 21, 2020 Referred to the House Committee on Ways and Means.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedApr 21, 2020
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

This bill makes permanent the limitation on excess business losses of noncorporate taxpayers and allows certain taxpayers a two-year carryback of net operating losses arising in 2020.

Cosponsors 56

Members who signed on, in the order they did. Signatures ran from Apr 21, 2020 to Oct 13, 2020; 13 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
D-VADonald S. Beyer, Jr.OriginalApr 21, 2020
D-OREarl BlumenauerOriginalApr 21, 2020
D-MNIlhan OmarOriginalApr 21, 2020
D-MDJamie RaskinOriginalApr 21, 2020
D-ILJanice D. SchakowskyOriginalApr 21, 2020
D-WIMark PocanOriginalApr 21, 2020
D-ORPeter A. DeFazioOriginalApr 21, 2020
D-VTPeter WelchOriginalApr 21, 2020
D-WAPramila JayapalOriginalApr 21, 2020
D-CARo KhannaOriginalApr 21, 2020
D-CTRosa L. DeLauroOriginalApr 21, 2020
D-TNSteve CohenOriginalApr 21, 2020
D-PASusan WildOriginalApr 21, 2020
D-NYAlexandria Ocasio-CortezApr 24, 2020
D-MAAyanna PressleyApr 24, 2020
D-CABarbara LeeApr 24, 2020
D-NJBonnie Watson ColemanApr 24, 2020
D-NYCarolyn B. MaloneyApr 24, 2020
D-RIDavid N. CicillineApr 24, 2020
D-NMDebra A. HaalandApr 24, 2020
D-DCEleanor Holmes NortonApr 24, 2020
D-VAGerald E. ConnollyApr 24, 2020
D-CAGrace F. NapolitanoApr 24, 2020
D-MPGregorio Kilili Camacho SablanApr 24, 2020
D-CTJahana HayesApr 24, 2020
D-MAJames P. McGovernApr 24, 2020
D-RIJames R. LangevinApr 24, 2020
D-ILJesús G. "Chuy" GarcíaApr 24, 2020
D-MDJohn P. SarbanesApr 24, 2020
D-MAJoseph P. Kennedy IIIApr 24, 2020
D-CAJulia BrownleyApr 24, 2020
D-OHMarcy KapturApr 24, 2020
D-CAMark TakanoApr 24, 2020
D-PAMary Gay ScanlonApr 24, 2020
D-NYPaul TonkoApr 24, 2020
D-MIRashida TlaibApr 24, 2020
D-AZRaúl M. GrijalvaApr 24, 2020
D-OHTim RyanApr 24, 2020
D-CAAlan S. LowenthalMay 1, 2020
D-FLAlcee L. HastingsMay 1, 2020
D-CAAnna G. EshooMay 1, 2020
D-CODiana DeGetteMay 1, 2020
D-PADwight EvansMay 1, 2020
D-NYJerrold NadlerMay 1, 2020
D-TXJoaquin CastroMay 1, 2020
D-CAJudy ChuMay 1, 2020
D-DELisa Blunt RochesterMay 1, 2020
D-ILRobin L. KellyMay 1, 2020
D-TXSylvia R. GarciaMay 1, 2020
D-CATed LieuMay 1, 2020
D-NYYvette D. ClarkeMay 1, 2020
D-MEChellie PingreeMay 15, 2020
D-ILDanny K. DavisMay 15, 2020
D-CTJoe CourtneyMay 15, 2020
D-ORSuzanne BonamiciJul 16, 2020
D-ILSean CastenOct 13, 2020

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseWays and Means Committee
Referred Apr 21, 2020

Actions 2

Everything that happened, newest first.

  1. Apr 21, 2020Introduced in House
  2. Apr 21, 2020Referred to the House Committee on Ways and Means.

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Clause 1 of Section 8 of Article I of the United States Constitution.

The sponsor’s statement, as printed in the Congressional Record, vol. 166, no. 75, April 21, 2020, page H1900.

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
S 3640CARES Windfall for the Wealthiest Repeal ActRelated billMay 7, 2020

Titles 1

Every title it has carried, official and short, at each stage.

Official Title as Introduced
To amend the Internal Revenue Code of 1986 to allow certain taxpayers a 2-year carryback of net operating losses and to restore and make permanent the limitation on excess business losses of non-corporate taxpayers.

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

  1. Apr 21, 2020Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.