S 1166
ALIGN Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The ALIGN Act permanently extends a tax provision that allows businesses to deduct the full cost of certain new equipment in the year they purchase it, rather than spreading the deduction over several years. This ‘full expensing’ provision was temporarily implemented and is now made permanent, aiming to encourage investment and economic growth. The bill clarifies and expands the rules around this deduction for various types of property. It also adjusts related tax code sections to ensure consistent application of the full expensing rules.
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Primary sponsor
Patrick Toomey
Cosponsors
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