CONGRESS FOR VOTERS

RepublicanBill · S. 187· Senate(119-S-187)

ALIGN Act

Rep. Lankford
Age: 58 years
Oklahoma
Introduced
1/22/2025
Last activity
1/22/2025 — Read twice and referred to the Committee on Finance.
Sponsored by
James Lankford
Cosponsors
Republican - 13Democrat - 0
Taxation
  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the "ALIGN Act," aims to amend the Internal Revenue Code of 1986. It seeks to permanently allow for full expensing of qualified property. This means the applicable percentage for property placed in service after September 27, 2017, would be set at 100 percent. The legislation also includes conforming amendments to various sections of the tax code. These changes impact how property and plants are treated for tax purposes.

Yes· 3 of 8

  • Would business owners be better off under this?+6

    The bill directly benefits business owners by allowing them to immediately deduct the cost of qualified property investments.

  • Would farmers be better off under this?+5

    The amendment regarding plant grafting specifically benefits agricultural investments.

  • Does this cut taxes for small businesses?+5

    The bill allows for full expensing of qualified property, which provides immediate tax deductions for business investments.

The opposite

  • Does this reduce what the federal government spends?-2

    The permanent implementation of full expensing likely reduces federal tax revenue.

  • Does this cut the tax on profits from selling investments?-1

    By prioritizing immediate expensing of business assets, the bill focuses on investment deductions rather than capital gains reductions.