This bill would change federal tax rules so that when a business invests in “qualified property,” it could deduct the cost right away instead of spreading the deduction over several years. It also includes a section on research and experimental costs in the tax code (section 174), indicating changes to how those expenses are handled. The aim is to speed up cost recovery for companies, including startups, by allowing immediate write-offs of investments.

Key points

• Who is affected: Businesses and startups that invest in qualified property or have research and experimental costs.
• What changes: Allows a tax deduction at the time the investment is made; addresses treatment of research and experimental expenses under section 174.
• When: The provided text does not specify timing or effective dates.