H.R. 7857: CAN Act
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H.R. 7857: CAN Act
116th Congress · introduced 2020-07-30 · Taxation · Latest: Referred to the Subcommittee on Select Revenue Measures.
federal
Follow this bill, step by step
- Where it came from: introduced 2020-07-30 · official record
- Who proposed it: Rep. Ferguson, A. Drew, IV [R-GA-3] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the Subcommittee on Select Revenue Measures. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
CAN Act
Plain summary
Connect America Now Act or the CAN Act This bill allows an exclusion from gross income, for income tax purposes, of gain from the sale or exchange of the entire interest in a wholly-owned rural incumbent local exchange carrier. A rural incumbent local exchange carrier is a carrier that serves an area where it is required to provide communications services to any customer regardless of cost, and an area other than an urbanized area with not fewer than 50,000 periople, and a core where there are not fewer than 1,000 people per square mile. The bill requires recapture of tax for income from the sale or exchange of stock in a carrier not held for at least one year. The bill allows an investment tax credit for 30% of expenditures to purchase, maintain, or improve property to provide voice telephone service or broadband internet access in rural empowerment zones. The bill increases the volume cap for private activity bonds and allows the use of bond proceeds for infrastructure for broadband internet access service.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Ferguson, A. Drew, IV [R-GA-3] · 0 cosponsors
Cost estimate: No cost estimate published yet.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (2)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
- Bond
- A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-116hr7857.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/hr>
Record fed-us-cong116-hr7857 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116