H.R. 2547 aims to change the tax rules for certain insurance companies in the U.S. by excluding their debt from being considered capital assets. This bill also proposes to extend the period these companies can carry over their capital losses from 5 years to 10 years. These...
Simple Explanation
H.R. 2547 is about making tax rules easier for some insurance companies by letting them forget about certain kinds of loans when counting up their important stuff, and letting them have more time (10 years instead of 5) to use some money they lost in the past.