HR 7382 · 117th Congress · Taxation

Supply Chain Disruptions Relief Act

Introduced 2022-04-04· Sponsored by Rep. Kildee, Daniel T. [D-MI-5]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2022-04-04)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

10 Democrats10 Republicans
Rep. Arrington, Jodey C. [R-TX-19]TX
Rep. Beyer, Donald S., Jr. [D-VA-8]VA
Rep. Kelly, Mike [R-PA-16]PA
Rep. Carson, Andre [D-IN-7]IN
Rep. Schrader, Kurt [D-OR-5]OR
Rep. Williams, Roger [R-TX-25]TX
Rep. Panetta, Jimmy [D-CA-20]CA
Rep. Doyle, Michael F. [D-PA-18]PA
Rep. Reed, Tom [R-NY-23]NY
Rep. Bonamici, Suzanne [D-OR-1]OR
Rep. Mooney, Alexander X. [R-WV-2]WV
Rep. Lawrence, Brenda L. [D-MI-14]MI
Rep. Wenstrup, Brad R. [R-OH-2]OH
Rep. Higgins, Brian [D-NY-26]NY
Rep. Rogers, Mike D. [R-AL-3]AL
Rep. Mrvan, Frank J. [D-IN-1]IN
Rep. McKinley, David B. [R-WV-1]WV
Rep. Pappas, Chris [D-NH-1]NH
Rep. Estes, Ron [R-KS-4]KS
Rep. Schweikert, David [R-AZ-6]AZ