H.R. 700 · 118th Congress · 2023–2024
Supply Chain Disruptions Relief Act
H.R. 700 in the 118th Congress (2023–2024) was introduced on Feb 1, 2023, sponsored by Jodey C. Arrington with 169 co-sponsors.
During the 118th Congress (2023–2024), Joe Biden was president, and Republicans held the House majority and Democrats the Senate majority.
- Status
- Introduced
- Introduced
- Feb 1, 2023
- Co-sponsors
- 169
- Policy area
- Taxation
What it does
Supply Chain Disruptions Relief Act This bill modifies the treatment of liquidations of new motor vehicle inventory as qualified LIFO (last in first out accounting method) inventory. It allows new motor vehicle dealers to elect to wait until the end of 2025 to replace their inventory for purposes of determining income attributable to the sale of such inventory during 2020 and 2021.
Summary by the nonpartisan Congressional Research Service.
Sponsor
Jodey C. Arrington (R-TX). Co-sponsors: 74 Democrats, 95 Republicans.
Where it stands
- IntroducedFeb 1, 2023
- Passed the House—
- Passed the Senate—
- Sent to the President—
- Became law—
Latest action: Referred to the House Committee on Ways and Means. (Feb 1, 2023)
More bills from Jodey C. Arrington in the 118th Congress
Other Taxation bills in the 118th Congress
- H.R. 1432: VETT Act
- H.R. 5863: Federal Disaster Tax Relief Act of 2023
- H.R. 3797: Paperwork Burden Reduction Act
- H.R. 3801: Employer Reporting Improvement Act
- H.R. 190: Saving Gig Economy Taxpayers Act
- H.R. 329: American Workforce Empowerment Act
- H.R. 531: Educational Choice for Children Act
- S. 596: Military Spouse Hiring Act
- H.R. 812: Inflation Reduction Act of 2023
- S. 866: American Innovation and Jobs Act
Committees
More
From GovInfo bill records, Congressional Research Service summaries, Voteview roll calls and lobbying reports.
Cite or embed this page
Capitol Receipts, “H.R. 700 (118th Congress): Supply Chain Disruptions Relief Act,” https://www.capitolreceipts.com/bill/118-hr-700/supply-chain-disruptions-relief-act (accessed 2026-10-17).