pass the Cut Unjustifed Tax (CUT) Loopholes Act (S.2075).

Carl Levin and Kent Conrad introduced the Cut Unjustified Tax (CUT) Loopholes Act (S.2075). Passage of the bill would prevent massive tax losses for the government, reducing the tax burden on the middle class. Specifically, the bill makes it illegal to claim stock option prices differently for investor and tax purposes. The bill would eliminate the ability to create 'hypothetical' tax losses when instead firms are profiting. The bill would eliminate the ability to carry forward these 'hypothetical' tax losses for up to 20 years... resulting in tax rebates that cost the country billions. We the People urge Congress to pass this bill!