Bill · S. 559· Senate(119-S-559)
AIMM Act
- Introduced
- 2/13/2025
- Last activity
- 2/13/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Shelley Capito
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill, titled the "American Investment in Manufacturing and Main Street Act" or the "AIMM Act," seeks to amend the Internal Revenue Code of 1986. It aims 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 are effective for taxable years beginning after December 31, 2021.
Yes· 3 of 7
Does this cut taxes for small businesses?+5
The bill extends the allowance for depreciation, amortization, or depletion when calculating business interest limitations, which provides tax relief to businesses.
Does this make it easier to run a small business?+5
The bill facilitates easier access to interest deductions for businesses through the extension of depreciation and amortization allowances.
Would business owners be better off under this?+5
The bill directly benefits business owners by permanently extending the allowance for depreciation, amortization, or depletion for business interest deductions.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Extension of Interest Deductions: By striking the language related to taxable years beginning before January 1, 2022, the bill permanently extends the allowance for depreciation, amortization, or depletion for determining the income limitation on business interest deductions. This is found in Section 2(a).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Improves Small Business Support+5Reduces Small Business Taxes+5Improves Economic Growth+3Increases Job Creation+2
- Demographic And Interest Groups
- Good For Business Owners+5Good For Farmers+3Good For High Income Households+2
- 2/13/2025
- Read twice and referred to the Committee on Finance.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.