As President Obama and Democrats in Congress begin preparing for mid-term elections in 2010, with numerous political analysts already signaling a weak environment for Democrats, legislative efforts to help stem the continued rise in layoffs may be back on the table. Although no one anticipates a second “stimulus” bill, President Obama and Democratic leaders are actively considering a suite of tax changes, an extension of unemployment benefits, and other initiatives to help small business and their employees. Among actions recently revisited is an extension of the Net Operating Loss (NOL) period from the current two year allowance to five years for all companies. Congress extended the NOL carryback in the American Reinvestment and Recovery Act (H.R. 1) earlier this year, but limited its application to only very small companies. Democratic and Republican leadership are now considering extending or expanding full NOL carryback. NMMA has long been working with coalition allies to press Congress full NOL relief for all companies. 

Last Updated ( Monday, 12 October 2009 )