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H.R. 2547119th CongressIn committeeLatest action Apr 1, 2025Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
HR 2547 changes two tax rules for most U.S. insurance companies, starting with losses after December 31, 2025.
40-second read · 4 questions answered below
This bill makes two changes to federal tax rules for insurance companies. First, losses on debt investments like bonds would be counted as ordinary losses, not capital losses, which follow stricter rules. Second, insurance companies would have 10 years instead of 5 to use past investment losses to offset future taxable gains.
These changes apply to most U.S. insurance companies. A few types are excluded, including certain small insurers, foreign insurers, and nonprofit health organizations.
Counting debt investment losses as ordinary losses gives insurance companies more flexibility in how those losses are treated at tax time. Extending the carryover period from 5 to 10 years means companies have a longer window to apply past losses against future gains.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Referred to the House Committee on Ways and Means.