This bill would let businesses immediately deduct the full cost of new equipment and certain plants in the year they buy and start using them, instead of spreading the write-off over many years. It makes this “full expensing” permanent and sets the percentage at 100% for property placed in service after September 27, 2017, including specified plants when they are planted or grafted . It also updates related tax code sections to match this change and ties the effective date to the way the 2017 tax law applied these rules .

• Who might notice this? Any business that buys machinery, equipment, computers, vehicles, or plants covered by these rules could lower their taxes right away in the purchase year, which can help with cash flow. Deductions in later years would be smaller, since the expense is taken up front .

Key points

• Who is affected: Businesses investing in “qualified property,” including specified plants
• What changes: Permanent 100% immediate deduction (full expensing) instead of multi-year depreciation
• When: Applies to property placed in service (or plants planted/grafted) after September 27, 2017; uses the same effective-date approach as the 2017 law section it amends