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Permanent Tax Deduction for Qualified Property Investments.

This act introduces a permanent, 100% tax deduction immediately upon making an investment in certain qualified property. This means businesses and individuals investing in eligible assets can deduct the full value of the investment from their taxable income right away, aiming to encourage more investment and economic growth.
Key points
Immediate 100% tax deduction for investments in qualified property.
Aims to encourage long-term investments and support economic growth.
Applies to property placed in service after September 27, 2017.
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Expired
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Additional Information
Print number: 117_S_1166
Sponsor: Sen. Toomey, Patrick [R-PA]
Process start date: 2021-04-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

ALIGN Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1166.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-15.

What are the main provisions?

Key points include:

  • Immediate 100% tax deduction for investments in qualified property.
  • Aims to encourage long-term investments and support economic growth.
  • Applies to property placed in service after September 27, 2017.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Toomey, Patrick [R-PA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Economy Public Investments