S. 2224IntroducedTAXATION
Stop Predatory Investing Act
Income tax deductions · Interest, dividends, interest rates · Real estate business
Sponsor
Sen. Brown, Sherrod [D-OH]
D · OH
Key facts
Introduced: Jul 11, 2023
Chamber: Senate
Cosponsors: 12
Congress: 118th
Latest action · Apr 18, 2024
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-712.
Summary
Stop Predatory Investing Act
This bill denies taxpayers owning 50 or more single family properties any tax deduction for interest paid or accrued in connection with any single family residential rental property. It also disallows depreciation of residential rental property owned by such taxpayers.
Summary by Congressional Research Service.
Timeline
- Apr 18, 2024Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-712.
- Jul 11, 2023Read twice and referred to the Committee on Finance.
- Jul 11, 2023Introduced in Senate
Cosponsors
- Sen. Wyden, Ron [D-OR] D-OR
- Sen. Reed, Jack [D-RI] D-RI
- Sen. Smith, Tina [D-MN] D-MN
- Sen. Merkley, Jeff [D-OR] D-OR
- Sen. Fetterman, John [D-PA] D-PA
- Sen. Warren, Elizabeth [D-MA] D-MA
- Sen. Baldwin, Tammy [D-WI] D-WI
- Sen. Whitehouse, Sheldon [D-RI] D-RI
- Sen. Sanders, Bernard [I-VT] I-VT
- Sen. Klobuchar, Amy [D-MN] D-MN
- Sen. Welch, Peter [D-VT] D-VT
- Sen. Blumenthal, Richard [D-CT] D-CT
In the News
View official record on Congress.gov →
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