Small Business and Consumer Credit Act of 2026

This bill changes federal tax rules for how certain banks and bank holding company groups can use business losses, called net operating losses, to lower their taxes. For losses in tax years starting in 2027, an eligible bank could choose to carry the loss forward to the next 20 tax years. For losses in tax years starting in 2028, it could also carry the loss back 1 year, and for losses in 2029 and later, back 2 years, plus forward 20 years. A bank must make this choice by the due date of its tax return for the year of the loss, and the choice cannot be undone for that year.

Full text and official record on Congress.gov

Sponsors

• Mike Carey Republican sponsor
• 11 cosponsors