Tax News & Views | Tax Policy | Senate Passes Housing Stimulus Proposal | Deloitte Tax LLP

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Tax Policy Group, Deloitte Tax LLP

Senate Passes Housing Stimulus Proposal; Includes Four-Year Net Operating Loss Carryback and Renewable Energy Tax Package – After a full week of deliberation, the Senate April 10 approved a $14.8 billion bipartisan compromise bill (H.R. 3221) that includes an extended net operating loss carryback provision for the business community, tax incentives and spending measures to aid struggling homeowners and prop up the housing market, and provisions to extend a number of expired or expiring energy tax credits for one year.

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