New Opportunities for Business Ownership and Self-Sufficiency Act

House Bill

H.R. 6431

119th Congress

New Opportunities for Business Ownership and Self-Sufficiency Act

In Committee

Introduced:Apr 28, 2026

Primary Sponsor

Mike Carey

R - OH

Cosponsors

0

Quick Stats

Policy Area

Taxation

Summary

The New Opportunities for Business Ownership and Self-Sufficiency Act aims to make it easier for Americans to start and run their own businesses through changes to the tax code. While the bill has passed through the Ways and Means Committee, specific details about which tax provisions would be modified have not been made publicly available in the legislative summary. The legislation represents an effort to reduce barriers to entrepreneurship through tax policy reform.

Latest Action

Received in the Senate and Read twice and referred to the Committee on Finance.

Introduced4/28/2026

StatusReceived in the Senate and Read twice and referred to the Committee on Finance.

ChamberHouse

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Vote Prediction

New Opportunities for Business Ownership and Self-Sufficiency Act

The New Opportunities for Business Ownership and Self-Sufficiency Act aims to make it easier for Americans to start and run their own businesses through changes to the tax code. While the bill has passed through the Ways and Means Committee, specific details a

Community Breakdown

Pass

0%

Fail

0%

0 predictions

The New Opportunities for Business Ownership and Self-Sufficiency Act aims to make it easier for Americans to start and run their own businesses through changes to the tax code. While the bill has passed through the Ways and Means Committee, specific details about which tax provisions would be modified have not been made publicly available in the legislative summary. The legislation represents an effort to reduce barriers to entrepreneurship through tax policy reform.

Bill Number: 6431
Introduced: 4/28/2026
Status: Received in the Senate and Read twice and referred to the Committee on Finance.
Policy Area: Taxation

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: New Opportunities for Business Ownership and Self-Sufficiency Act
Bill Number: 6431
Sponsor: No sponsor
Status: Received in the Senate and Read twice and referred to the Committee on Finance.
Introduced: 4/28/2026
Summary: The New Opportunities for Business Ownership and Self-Sufficiency Act aims to make it easier for Americans to start and run their own businesses through changes to the tax code. While the bill has passed through the Ways and Means Committee, specific details about which tax provisions would be modif

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

The New Opportunities for Business Ownership and Self-Sufficiency Act aims to make it easier for Americans to start and run their own businesses through changes to the tax code. While the bill has passed through the Ways and Means Committee, specific details about which tax provisions would be modified have not been made publicly available in the legislative summary. The legislation represents an effort to reduce barriers to entrepreneurship through tax policy reform.

Last updated: 2/23/2026

Key Points

Main provisions of the bill

Focuses on tax policy changes designed to promote business ownership and entrepreneurship among Americans
Has advanced through the House Ways and Means Committee and been placed on the legislative calendar for potential floor consideration
Currently has no cosponsors, indicating it may be an early-stage proposal seeking broader support
Targets self-sufficiency goals by presumably making it more financially viable for individuals to launch their own businesses

How This Impacts Americans

Potential effects on citizens and communities

This bill would primarily affect aspiring entrepreneurs, small business owners, and self-employed individuals by modifying tax rules related to business formation and operation. The real-world impact would depend on the specific tax incentives or deductions included, which could range from startup expense deductions to changes in self-employment tax rates. Without detailed provisions available, the scope of Americans who would benefit remains unclear, though the title suggests a focus on expanding business ownership opportunities for those seeking economic independence.

Policy Areas

Primary Policy Area

Taxation

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

6431, 119th Congress (2026). "New Opportunities for Business Ownership and Self-Sufficiency Act". Source: Voter's Right Platform. https://votersright.org/bills/119-hr-6431