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119-hr-1347119th CongressWALLET

AIMM Act

Sponsored By: Representative Smith, Adrian [R-NE-3]

Introduced

Summary

Permanently extends the allowance for depreciation, amortization, and depletion that sets the income cap on the business interest deduction under section 163(j). This bill would remove the phrase "in the case of taxable years beginning before January 1, 2022" so the allowance no longer sunsets. The change would apply to taxable years beginning after December 31, 2021. No other policy changes are included in this section.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Bigger interest deduction for businesses

If enacted, businesses could include depreciation, amortization, and depletion when figuring the limit on their business interest deduction. This would make that allowance permanent. It would apply to tax years beginning after December 31, 2021. Many businesses could deduct more interest and pay less tax, especially those with large depreciation.

Sponsors & CoSponsors

Sponsor

Smith, Adrian [R-NE-3]

NE • R

Cosponsors

  • Rep. Morelle, Joseph D. [D-NY-25]

    NY • D

    Sponsored 2/13/2025

  • Rep. Hern, Kevin [R-OK-1]

    OK • R

    Sponsored 2/13/2025

  • Rep. Schneider, Bradley Scott [D-IL-10]

    IL • D

    Sponsored 2/13/2025

  • Rep. Miller, Max L. [R-OH-7]

    OH • R

    Sponsored 2/13/2025

  • Rep. Feenstra, Randy [R-IA-4]

    IA • R

    Sponsored 2/13/2025

  • Rep. LaHood, Darin [R-IL-16]

    IL • R

    Sponsored 2/13/2025

  • Rep. Buchanan, Vern [R-FL-16]

    FL • R

    Sponsored 2/13/2025

  • Rep. Smucker, Lloyd [R-PA-11]

    PA • R

    Sponsored 2/13/2025

  • Rep. Moran, Nathaniel [R-TX-1]

    TX • R

    Sponsored 2/13/2025

  • Rep. Kustoff, David [R-TN-8]

    TN • R

    Sponsored 2/13/2025

  • Rep. Carey, Mike [R-OH-15]

    OH • R

    Sponsored 2/13/2025

  • Rep. Strickland, Marilyn [D-WA-10]

    WA • D

    Sponsored 2/13/2025

  • Rep. Yakym, Rudy [R-IN-2]

    IN • R

    Sponsored 2/13/2025

  • Rep. Panetta, Jimmy [D-CA-19]

    CA • D

    Sponsored 2/13/2025

  • Rep. Quigley, Mike [D-IL-5]

    IL • D

    Sponsored 2/13/2025

  • Rep. Tenney, Claudia [R-NY-24]

    NY • R

    Sponsored 2/13/2025

  • Rep. Meuser, Daniel [R-PA-9]

    PA • R

    Sponsored 3/3/2025

  • Rep. Bynum, Janelle S. [D-OR-5]

    OR • D

    Sponsored 3/24/2025

  • Rep. Balderson, Troy [R-OH-12]

    OH • R

    Sponsored 3/27/2025

  • Rep. Davids, Sharice [D-KS-3]

    KS • D

    Sponsored 4/9/2025

  • Rep. Fitzpatrick, Brian K. [R-PA-1]

    PA • R

    Sponsored 5/1/2025

Roll Call Votes

No roll call votes available for this bill.

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