Read twice and referred to the Committee on Finance.
The bill amends IRC section 163(j) to permanently allow taxpayers to include depreciation, amortization, and depletion when calculating the adjusted taxable income limitation on the business interest deduction. It removes the sunset language that had limited that allowance to taxable years beginning before January 1, 2022, making the rule apply to taxable years beginning after December 31, 2021.
Liberals emphasize revenue loss and unequal corporate benefits.
Narrow, pro-business tax fix can attract support, but standalone revenue loss may face fiscal scrutiny.
The bill amends IRC section 163(j) to permanently allow taxpayers to include depreciation, amortization, and depletion when calculating the adjusted taxable income limitation on the business interest deduction.
It removes the sunset language that had limited that allowance to taxable years beginning before January 1, 2022, making the rule apply to taxable years beginning after December 31, 2021.
Technically simple and targeted, but permanent revenue loss and lack of offsets reduce standalone prospects; likelier if folded into a larger tax package.
How solid the drafting looks.
Liberals emphasize revenue loss and unequal corporate benefits.
These are examples from the analysis, not a ranked list of the most-affected groups.
Liberals emphasize revenue loss and unequal corporate benefits.
Likely skeptical.
Views the change as a permanent corporate tax preference that reduces federal revenue and disproportionately benefits capital‑intensive firms.
Might acknowledge manufacturing support but would want offsets or progressive safeguards.
Cautiously inclined to support if fiscally responsible.
Sees value in giving predictable tax treatment to investment, especially manufacturing, but wants cost estimates and possible offsets to be fiscally prudent.
Generally supportive.
Views permanent allowance as pro‑growth tax policy that reduces burdens on investment and provides long‑term certainty to manufacturers and Main Street businesses.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Technically simple and targeted, but permanent revenue loss and lack of offsets reduce standalone prospects; likelier if folded into a larger tax package.
The bill has not accumulated any surfaced votes yet.
Liberals emphasize revenue loss and unequal corporate benefits.
Technically simple and targeted, but permanent revenue loss and lack of offsets reduce standalone prospects; likelier if folded into a larg…
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