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119th Congress
Independent · Nonpartisan · Reader-supported
HOUSEH.R. 9840· 119th Congress

S Corporation Modernization Act of 2026

Sponsor
Mike Carey (R-OH)
Introduced
Jul 22, 2026
Last Action
Jul 22, 2026
Passage
12%
Introduced
Jul 22, 2026
2
Committee
3
Floor Vote
4
Both Chambers
5
Enacted
01 — The Text

What.

  • Bill targets S Corporation tax rules, a structure used by ~4 million small businesses and farms.
  • Detailed changes not yet public — official summary unavailable while bill is in early stages.
  • Title suggests modernizing decades-old tax code provisions for S Corps, but specifics pending.
02 — The Stakes

So what?

  • Small business owners and farmers using S Corp structure could see tax code changes — unclear if favorable or restrictive.
  • Any changes ripple through payroll taxes, profit distribution rules, or eligibility requirements for ~4 million entities.
  • No cosponsors yet signals limited initial support or still-building coalition.
03 — The Path

Now what?

  • Bill introduced and referred to House Ways and Means Committee (7/22/26) — awaiting committee review and debate.
  • Check Congress.gov or your representative's office for bill text and hear their position as details emerge.
  • Contact your House member if S Corps matter to you — early feedback shapes committee priorities.
Legislative History

Actions.

  • Jul 22, 2026Referred to the House Committee on Ways and Means.
  • Jul 22, 2026Introduced in House
  • Jul 22, 2026Introduced in House