Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act

# Summary of S 2230: FULL HOUSE Act **What the Bill Would Do** The FULL HOUSE Act aims to provide tax relief to businesses in the service industry by modifying how they can deduct business losses on their tax returns. Specifically, the bill would allow service-sector businesses to carry forward larger losses to offset future profits, potentially reducing their tax burden in years following significant losses. This is designed to help businesses weather difficult economic periods and maintain operations during downturns. **Who It Affects and Key Provisions** The bill primarily targets service-sector businesses—including restaurants, hotels, entertainment venues, personal services, and similar industries. By allowing larger loss deductions, the legislation could help these businesses recover financially after losses due to economic challenges, natural disasters, or other disruptions.

The bill name itself ("FULL HOUSE") is a play on words referencing the service economy. **Current Status** As of now, S 2230 remains in committee, meaning it has not yet advanced to a full vote in the Senate. The bill was introduced by Senator Catherine Cortez Masto (D-Nevada) in the 119th Congress. No further action has been taken, and the bill would need committee approval and broader congressional support to move forward.