Modernize S corporation tax rules by passing the S Corporation Modernization Act to reduce complexity, expand access to capital and employee ownership, and support business growth.

Mike Carey · Ohio · Republican

policy impact 0.70 specificity 0.80 extraction confidence 78%

Commitment kind: unknown. Promised action: not established. Promised outcome: not established. Deadline: unknown; not assumed expired.

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Occurrences

The S Corporation Modernization Act updates these outdated policies, reduces complexity, and gives job creators the flexibility they need to invest, grow, and keep more Americans employed.

Carey promoted his S Corporation Modernization Act as legislation to update outdated S corporation tax policies, reduce complexity, and help businesses invest, grow, and keep Americans employed.

Carey Introduces S Corporation Modernization Act to Strengthen Small Businesses and Promote Growth | Representative Mike Carey
primary · press_release · model gpt-5.5

Evidence

legacy_unverified · Source version not recorded · locator unknown

Last Action Date Listed: July 22, 2026. Action: Mr. Carey introduced the following bill; referred to Ways and Means.

Unverified model/legacy excerpt; not proof. AI summary (separate from source): GovInfo records H.R. 9840 as introduced by Mike Carey and referred to the House Ways and Means Committee, with no enacted-law or chamber-passage status shown. Searches in the September 3-5, 2026 lookback window did not surface an official newer action showing passage.

unresolved same_term A for effort

H.R. 9840 (IH) - S Corporation Modernization Act of 2026 - GovInfo
secondary · model gpt-5.5 · confidence 95%

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legacy_unverified · Source version not recorded · locator unknown

Carey introduced the S Corporation Modernization Act, legislation to modernize outdated tax rules affecting S corporations.

Unverified model/legacy excerpt; not proof. AI summary (separate from source): Carey's office says he introduced the Act and describes provisions matching the commitment: reducing complexity, expanding employee ownership, improving access to capital, and raising the shareholder limit. This is serious action toward the promise, but not passage.

partial same_term A for effort

Carey Introduces S Corporation Modernization Act to Strengthen Small Businesses and Promote Growth | Representative Mike Carey
primary · model gpt-5.5 · confidence 92%

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Assessments

Public state: unverified As of unknown · legacy_unverified · . Original AI recommendation (not independently established): never. same_term A for effort

The promise was to modernize S corporation tax rules by passing the S Corporation Modernization Act. Carey did sponsor and introduce H.R. 9840 in the 119th Congress, and the bill's provisions align with the promise, so there was a serious same-term legislative attempt. However, the bill has only been introduced and referred to the House Ways and Means Committee, with no evidence of House passage, Senate passage, or enactment. Because the promised outcome required passage, it has not been delivered.

provider codex_cli · model gpt-5.5 · confidence 95%