Bills · HR 1959
IN COMMITTEE· 119TH CONGRESS
House BillHR 1959Taxation
To amend the Internal Revenue Code of 1986 to protect small businesses from unemployment insurance premium increases by reason of unrepaid State advances.
INTRO MAR 6· LAST ACTION MAR 6
READING
1MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it directly impacts the financial stability of small businesses, which are a major source of jobs and economic activity. If this bill passes, small businesses won't face increased federal unemployment taxes due to their state's financial decisions, potentially freeing up funds for them to invest, grow, or maintain current operations. If it doesn't pass, small businesses in states with outstanding federal unemployment loans would continue to see their FUTA taxes rise, adding another financial burden, especially during or after economic downturns when state unemployment funds often become depleted. It's about ensuring small businesses aren't penalized for broader state-level financial challenges.
KEY PROVISIONS
3AI-extractedPROVISION 01
Prevents federal unemployment tax credits from being reduced for certain small businesses, even if their state has outstanding federal unemployment loans.
This stops an automatic tax increase for small businesses that would otherwise occur due to state debt.
PROVISION 02
Defines a "specified small business" as any business employing fewer than 500 employees.
This clearly outlines which businesses are eligible for the protection provided by the bill.
PROVISION 03
States that these changes will apply to tax years beginning after the bill is officially signed into law.
This sets the timeframe for when the protections for small businesses will start.
SPONSORSHIP
1 + 1
R· New York
YRS IN OFFICE
9
BILLS LED
80
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 1 IND 0
ACTION TIMELINE
2 EVENTSMAR 6
Introduced in House
MAR 6
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 1959
Congress119th
StatusIn Committee
IntroducedMar 6, 2025
Last actionMar 6, 2025
READER REACTIONS
OVERALL SENTIMENT
No reactions yet. Be the first to weigh in.
Discussion
Loading comments...
IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED MAR 6, 2025
House BillHR 1959Taxation
To amend the Internal Revenue Code of 1986 to protect small businesses from unemployment insurance premium increases by reason of unrepaid State advances.
INTRODUCED MAR 6, 2025· LAST ACTION MAR 6, 2025
PASSAGE CHANCES
—%
READING
1 min
COSPONSORS
1
COMPLEXITY
Moderate
