Skip to content
Govbase
Govbase
Congress·In Progress·S.J.Res. 95

Corporate Tax: Blocking IRS Rules for Partnerships

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Interim Guidance Simplifying Application of the Corporate Alternative Minimum Tax to Partnerships".

about 1 month ago·View on Congress.gov

Legislative Progress

Senate
House
President
Law

Key Points

  • Congress is considering a resolution to cancel a specific rule from the Internal Revenue Service (IRS) regarding how very large companies calculate their taxes.
  • The IRS rule was designed to simplify how the Corporate Alternative Minimum Tax applies to businesses organized as partnerships. This tax generally targets companies that make over $1 billion in profit.
  • If this resolution passes and is signed into law, the IRS guidance would be completely voided. The agency would be blocked from using these specific simplified rules for corporate tax collections.
  • This action matters because it affects how much money the government collects from the nation's largest businesses and how those companies report their earnings.
  • The resolution was introduced by Senator Wyden and uses a special process that allows Congress to review and overrule regulations created by federal agencies.

Milestones

3 milestones5 actions
Feb 10, 2026Senate

Motion to proceed to consideration of measure rejected in Senate by Yea-Nay Vote. 47 - 51. Record Vote Number: 35. (CR S543)

Dec 18, 2025Senate

Placed on Senate Legislative Calendar under General Orders. Calendar No. 297.

Dec 18, 2025Senate

Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).

Nov 18, 2025Senate

Read twice and referred to the Committee on Finance.

Nov 18, 2025

Introduced in Senate

Vote Results

1 vote
SenateFailedProceduralFeb 10, 2026

On the Motion to Proceed

47
51
Democrat
44 – 0 · 1
Republican
1 – 51 · 1
Independent
2 – 0
View full roll call

Source Information

Document Type

Congressional Bill

Official Title

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Interim Guidance Simplifying Application of the Corporate Alternative Minimum Tax to Partnerships".

Bill NumberSJRES 95
Congress119th Congress
ChamberSenate
Latest ActionMotion to proceed to consideration of measure rejected in Senate by Yea-Nay Vote. 47 - 51. Record Vote Number: 35. (CR S543)

Sponsor

Cosponsors

(3)
D: 2I: 1

Analysis generated by AI. Always verify with official sources.