AIMM Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 559 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 559 To amend the Internal Revenue Code of 1986 to permanently extend the allowance for depreciation, amortization, or depletion for purposes of determining the income limitation on the deduction for business interest. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES February 13, 2025 Mrs. Capito introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to permanently extend the allowance for depreciation, amortization, or depletion for purposes of determining the income limitation on the deduction for business interest. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``American Investment in Manufacturing and Main Street Act'' or the ``AIMM Act''. SEC. 2. PERMANENT EXTENSION OF ALLOWANCE FOR DEPRECIA…