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S. 823, The Net Operating Loss (NOL) Carryback Act (1 comment ↓)
S. 823 would amend the Internal Revenue Code of 1986 to allow a 5-year carryback of operating losses.
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Dan Catalfumo
June 1, 2009, 3:57pm (report abuse)April 29, 2009
Dear Senator Snowe:
Thank you! Thank you for having the vision to champion a bill that will make an immediate and critical difference to entrepreneurs and their millions of employees nationwide! These are the same entrepreneurs operating businesses with a significant risk of laying off mass numbers of employees including the automotive and hospitality industries as examples. With the dramatic upheaval in the automotive industry, it appears likely that one or more of the Big 3 automakers will require Chapter 11 reorganization to survive and necessarily impact thousands of suppliers and other related automotive industry businesses. Just as critical, the hospitality industry (hotels, restaurants, sports events/entertainment) is facing record declines in occupancy/attendance which will also result in a domino effect of mass layoffs. Your bill will help prevent countless job layoffs in
Sincerely,
Daniel S. Catalfumo