Federal Lawmakers Push for Retroactive Tax Increase

The National Association of Manufacturers (NAM) reports that several members of Congress want to include a significant rollback of net operating loss relief in the next federal COVID-19 relief bill. NAM Senior Director of Tax Policy David Eiselsberg says such a policy change would “result in a retroactive tax increase on a sector that is key to America‚Äôs success.”

Meanwhile, the U.S. Chamber of Commerce has made its case for preserving a competitive corporate tax rate, saying there’s bipartisan agreement that an economic downturn is not the time to raise taxes. 2/8/2021