In CommitteeFiled Mar 25, 2026
Sponsor: Sen. Whitehouse, Sheldon [D-RI] (D)
Latest Action
Read twice and referred to the Committee on Finance.
Mar 25, 2026
Summary
The bill changes the tax code so that mergers, acquisitions, consolidations, or asset transfers involving companies with combined average annual gross receipts over $500 million are no longer tax‑free. It also ends the tax‑free status for property transfers by multiple large corporations, unless they already control the target or qualify as small businesses. The aim is to prevent big firms from using tax rules to subsidize huge deals.
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