- Stage
- In committee
- Started in
- Senate
- Sponsor
- 1
- Latest action
- Feb 13, 2025
What it does
The AIMM Act would permanently extend a tax provision allowing businesses to include depreciation, amortization, or depletion when calculating their income for purposes of determining the limit on deductible business interest. It amends the Internal Revenue Code by removing a sunset clause that previously limited this allowance to taxable years beginning before January 1, 2022. The change would apply to taxable years starting after December 31, 2021, affecting businesses that rely on interest deductions and asset-based tax calculations. This extension aims to support ongoing investment in manufacturing and Main Street businesses by providing greater predictability in tax treatment.
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.
Where it goes next
While a bill can still move, the questions are about people and money.