II 116th CONGRESS 2d Session S. 3640 IN THE SENATE OF THE UNITED STATES May 7, 2020 Mr. Whitehouse (for himself, Mr. Brown , Mr. Leahy , Mr. Sanders , Mr. Udall , Mr. Blumenthal , Mr. Durbin , Mr. Markey , Mr. Van Hollen , Mr. King , Ms. Warren , Ms. Harris , Mr. Carper , Ms. Klobuchar , Mr. Coons , Mr. Reed , Mr. Murphy , Mrs. Gillibrand , Mr. Booker , Ms. Baldwin , Ms. Smith , Ms. Hirono , Mr. Schatz , and Mr. Merkley ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to allow certain taxpayers a 2-year carryback of net operating losses and to restore and make permanent the limitation on excess business losses of non-corporate taxpayers.