Bill lets banks reduce taxes by spreading losses over 20 years.
H.R. 9383 — Small Business and Consumer Credit Act of 2026 · Filed by Mike Carey (R-OH) · 11 cosponsors · Introduced Jun 22, 2026 · Referred to committee
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What it does
The bill allows certain banks to use losses from 2027 onward. Banks can lower their taxes for up to 20 years. Banks can also reduce taxes they paid in earlier years. This tax break applies only to financial institutions, not other businesses.
Who it affects
Banks and bank holding companies gain a tax benefit. Other businesses and general taxpayers are affected because the government collects less tax money.
One thing to notice
The bill's title mentions small business and consumer credit. The bill itself only creates a tax break for banks.
From the analysis of the bill text, linked under Primary records below.
Where it stands
11 cosponsors: 6 Democrats, 5 Republicans.
- Jun 22, 2026 — Introduced · Congress.gov: “Introduced in House”
- Jun 22, 2026 — Referred to House Committee on Ways and Means · Congress.gov: “Referred to the House Committee on Ways and Means”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Money around this bill
6 groups reported lobbying about this bill. They filed 6 reports from Jun 2026 to Jun 2026.
Those reports show $5,340,000 in lobbying spending. Each report lists about 4 bills. So that money was not all for this bill.
More groups named this bill than 82% of bills with any report.
Mike Carey, who sponsored the bill, received $1,787,017 from PACs for the 2026 election.
- American Bankers Association — $3,510,000 in 1 report
- Capital One Financial Corporation — $1,240,000 in 1 report
- Synchrony Financial — $430,000 in 1 report
- Capital One Financial Corporation — $70,000 in 1 report
- Capital One Financial Corporation — $50,000 in 1 report
Lobbying is legal. These reports show who lobbied about this bill, not what changed.
Words to know
- bank holding companies — Companies that own one or more banks.
- financial institutions — Businesses like banks that handle money and loans.
- tax break — A special rule that lets someone pay less in taxes.
- lobbying — Trying to influence lawmakers about a bill. Companies and groups pay people to do this.
- PACs — Groups that collect money and give it to candidates for office.
- sponsored — To sponsor a bill is to introduce it in Congress and put your name on it.
How this was measured
Analysis — Quorum's AI read the full bill text on Jul 10, 2026; transparency and hidden-provision scores are compared against the median of 14,206 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
Money — Senate Lobbying Disclosure Act filings whose specific-issue field names this bill for quarters ending Jun 2026 to Jun 2026. A filing's amount is reported whole beside the median number of bills a filing names; it is never divided across them. PAC receipts are FEC-reported contributions to the sponsor's candidate committee in the 2026 cycle.
As of — lobbying records through Jul 20, 2026 · page rendered 2026-09-17.
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