SENATE 443118th CongressSubmitted in the Senate, considered, and agreed to without amendment and with a preamble by Unanimous Consent. (consideration: CR S5262; text: CR S5259)
A resolution designating October 2023 as "National Farm to School Month".
- Last Action
- 10/31/2023
Actions
- 2023-02-15Read twice and referred to the Committee on Finance.
- 2023-02-15Introduced in Senate
CRS Summary
As of 2023-02-15 (00)
Supply Chain Disruptions Relief Act
This bill modifies the treatment of liquidations of new motor vehicle inventory as qualified LIFO (last in first out accounting method) inventory. It allows new motor vehicle dealers to elect to wait until the end of 2025 to replace their inventory for purposes of determining income attributable to the sale of such inventory during 2020 and 2021.
Cosponsors (20)
- Tim Scott (R-SC)
- Tammy Baldwin (D-WI)
- Richard Blumenthal (D-CT)
- Ben Cardin (D-MD)
- Thomas Carper (D-DE)
- Christopher Coons (D-DE)
- Catherine Cortez Masto (D-NV)
- Tammy Duckworth (D-IL)
- Dianne Feinstein (D-CA)
- Maggie Hassan (D-NH)
- Mark Kelly (D-AZ)
- Angus King (I-ME)
- Amy Klobuchar (D-MN)
- Joseph Manchin (D-WV)
- Patty Murray (D-WA)
- Alex Padilla (D-CA)
- Gary Peters (D-MI)
- Jeanne Shaheen (D-NH)
- Tina Smith (D-MN)
- Debbie Stabenow (D-MI)
Subjects
- Accounting and auditing
- Administrative law and regulatory procedures
- Department of the Treasury
- Income tax deferral
- Motor vehicles
- Tax administration and collection, taxpayers
Sourced from Congress.gov (public domain).
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