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Permanent Tax Relief for Businesses: Business Interest Deduction

This act introduces permanent changes to tax rules that may make it easier for businesses to deduct interest expenses on loans. This could free up more funds for companies, including small and medium-sized ones, to invest and grow, potentially leading to job creation and economic growth. The changes relate to how the limit on business interest deductions is calculated, by including depreciation and depletion.
Key points
The act permanently allows businesses to include depreciation and depletion when calculating the limit on business interest deductions.
This change could reduce the tax burden for many businesses, potentially encouraging investment and growth.
The provisions apply to tax years beginning after December 31, 2021.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1347
Sponsor: Rep. Smith, Adrian [R-NE-3]
Process start date: 2025-02-13
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

AIMM Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1347.

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 2025-02-13.

What are the main provisions?

Key points include:

  • The act permanently allows businesses to include depreciation and depletion when calculating the limit on business interest deductions.
  • This change could reduce the tax burden for many businesses, potentially encouraging investment and growth.
  • The provisions apply to tax years beginning after December 31, 2021.
What is the specific legal status?

The current status is Introduced.

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. Smith, Adrian [R-NE-3].

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 2025-12-22.

CATEGORIES

Taxes Economy