# 119-s-4185: Stop Subsidizing Giant Mergers Act

119-s-4185, Stop Subsidizing Giant Mergers Act, is a 119th Congress bill sponsored by Sen. Whitehouse, Sheldon [D-RI] (D-RI); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-4185
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4185
- Congress: 119
- Title: Stop Subsidizing Giant Mergers Act
- Status: introduced
- Introduced: 2026-03-25
- Sponsor: Sen. Whitehouse, Sheldon [D-RI] (D-RI)
- Cosponsors: 1
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Ends tax-free treatment for certain very large corporate mergers and acquisitions.** This bill would block tax-favored reorganizations and curb tax-free transfers where the combined average annual gross receipts of the parties exceed $500 million, with narrow exceptions for control and small corporations. - Large companies and dealmakers: Would lose tax-free reorganization status for mergers, consolidations, acquisitions, or transfers when the combined average annual gross receipts exceed $500 million, subject to exceptions for pre-existing control or small corporations and aggregation rules. - Corporate transferors: Would bar Section 351 nonrecognition when two or more corporate transferors together exceed the $500 million receipts test, unless they control the transferee or meet the small-corporation receipts test. - Regulators and timing: The Treasury Secretary could write anti-abuse rules and the $500 million threshold would be inflation-adjusted after 2026; the changes would apply to transfers after enactment.

## Cosponsors (1)

- Sen. Hawley, Josh [R-MO] (R-MO), 2026-03-25T00:00:00.000Z

## Provisions PRIA read

- Limits on tax-free mergers for large companies: cost, medium. This bill would stop tax-favored reorganization treatment for many mergers, consolidations, and acquisitions when the buyer and target together had average annual gross receipts over $500 million for the prior three years. The rule would not apply if one company controlled the other immediately bef…
- Limits on tax-free transfers by large companies: cost, medium. This bill would prevent tax-free treatment under section 351 for transfers of property by two or more corporate transferors when their combined average annual gross receipts for the prior three years exceed $500 million. The rule would not apply if the transferors controlled the transferee immediat…

## Related bills

- 119-s-4949: Water Resources Development Act of 2026
- 119-s-5071: Children's Safe Welcome Act of 2026
- 119-s-1748: Kids Online Safety Act
- 119-s-1381: Protecting Employees and Retirees in Business Bankruptcies Act of 2025
- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-463: Protect Our Letter Carriers Act of 2025

## Sources
- [119-s-4185 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4185)

## Related
- [119-s-4949: Water Resources Development Act of 2026](https://policyrisk.com/legislation/119-s-4949)
- [119-s-5071: Children's Safe Welcome Act of 2026](https://policyrisk.com/legislation/119-s-5071)
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-1381: Protecting Employees and Retirees in Business Bankruptcies Act of 2025](https://policyrisk.com/legislation/119-s-1381)
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-463: Protect Our Letter Carriers Act of 2025](https://policyrisk.com/legislation/119-s-463)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4185 (as of 2026-04-21).