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Permanent Tax Deductions for Investments: Business Support.

This act introduces permanent tax deductions for businesses immediately after they invest in qualified property and equipment. This means companies can recover a portion of their investment costs more quickly, encouraging greater spending on development. As a result, this could lead to job creation and economic growth, indirectly impacting citizens' financial stability.
Key points
Businesses can deduct 100% of qualified investment costs from taxes in the year they are incurred.
The change aims to encourage businesses to invest, which could lead to economic growth and new jobs.
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Additional Information
Print number: 118_HR_2406
Sponsor: Rep. Arrington, Jodey C. [R-TX-19]
Process start date: 2023-03-30
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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 118_HR_2406.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-30.

What are the main provisions?

Key points include:

  • Businesses can deduct 100% of qualified investment costs from taxes in the year they are incurred.
  • The change aims to encourage businesses to invest, which could lead to economic growth and new jobs.
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 Rep. Arrington, Jodey C. [R-TX-19].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Taxes Economy Public Investments