Bill · H.R. 1347· House(119-HR-1347)

AIMM Act

Age: 56 years

Nebraska

Introduced: 2/13/2025
Last activity: 2/13/2025 — Referred to the House Committee on Ways and Means.
Sponsored by: Adrian Smith
Cosponsors: - 14 - 7

Taxation

Introduced
In Committee

What this bill would do

This bill, titled the "American Investment in Manufacturing and Main Street Act" or the "AIMM Act," aims to amend the Internal Revenue Code of 1986. It seeks to permanently extend the allowance for depreciation, amortization, or depletion. This extension applies when determining the income limitation on the deduction for business interest. The changes would be effective for taxable years beginning after December 31, 2021.

Yes· 3 of 8

Does this cut taxes for small businesses?+5
The bill permanently extends the allowance for depreciation, amortization, or depletion when calculating business interest deduction limitations, which reduces the tax burden for businesses.
Does this make it easier to run a small business?+5
The bill provides more certainty and better tax treatment for businesses regarding interest deductions.
Would business owners be better off under this?+5
The bill benefits business owners by providing a more permanent and favorable way to deduct business interest.