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AI Summary
Text Versions
Text as it was Introduced in House
ViewFebruary 13, 2025•2 pages
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This bill would change how businesses figure out the cap on their tax write‑off for interest they pay on loans. It would permanently let companies include certain non-cash costs—like depreciation, amortization, and depletion—when calculating their income for this limit. That usually raises the cap, so more of a business’s interest costs could be deducted from taxes.
It would apply starting with the 2022 tax year, and going forward, making this approach permanent rather than temporary.