Growing America’s Small Businesses and Manufacturing Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 12
- Latest action
- May 8, 2025
What it does
The bill would permanently extend a tax provision allowing businesses to include depreciation, amortization, or depletion when calculating the limit on deductible business interest, which was set to expire after 2021. It would also increase the maximum amount small businesses can immediately expense for qualifying equipment and property from $1 million to $2.5 million, and raise the phase-out threshold from $2.5 million to $4 million, with both changes adjusted for inflation starting in 2025. These changes would apply to taxable years beginning after December 31, 2024, primarily affecting small and medium-sized businesses seeking to invest in equipment and manage interest deductions. The…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money.