summary
Introduced
05/12/2020
05/12/2020
In Committee
05/12/2020
05/12/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in qualified property is made, and for other purposes. This bill makes permanent the expensing of certain new business equipment. Expensing allows the deduction of the full amount of an expense item in the same taxable year.
AI Summary
This bill, the Accelerate Long-term Investment Growth Now Act or the ALIGN Act, makes permanent the expensing of certain new business equipment. Expensing allows businesses to deduct the full amount of an expense item in the same taxable year, rather than depreciating the cost over multiple years. The bill amends the Internal Revenue Code to permanently allow a tax deduction at the time an investment in qualified property is made, rather than requiring businesses to depreciate those investments over time.
Committee Categories
Budget and Finance
Sponsors (72)
Jodey Arrington (R)*,
Brian Babin (R),
Jim Banks (R),
Andy Barr (R),
Andy Biggs (R),
Gus Bilirakis (R),
Dan Bishop (R),
Mo Brooks (R),
Ken Buck (R),
Ted Budd (R),
Michael Burgess (R),
Bradley Byrne (R),
John Carter (R),
Ben Cline (R),
Tom Cole (R),
Doug Collins (R),
James Comer (R),
Rick Crawford (R),
Dan Crenshaw (R),
John Curtis (R),
Scott DesJarlais (R),
Neal Dunn (R),
Tom Emmer (R),
Ron Estes (R),
Drew Ferguson (R),
Mike Gallagher (R),
Lance Gooden (R),
Kay Granger (R),
Garret Graves (R),
Mark Green (R),
Kevin Hern (R),
Jody Hice (R),
Richard Hudson (R),
Mike Johnson (R),
Fred Keller (R),
Trent Kelly (R),
Adam Kinzinger (R),
David Kustoff (R),
Doug LaMalfa (R),
Bob Latta (R),
Debbie Lesko (R),
Billy Long (R),
Kenny Marchant (R),
Carol Miller (R),
John Moolenaar (R),
Alex Mooney (R),
Greg Murphy (R),
Pete Olson (R),
Steven Palazzo (R),
Greg Pence (R),
Scott Perry (R),
Bill Posey (R),
Guy Reschenthaler (R),
Tom Rice (R),
Denver Riggleman (R),
Francis Rooney (R),
David Schweikert (R),
Jason Smith (R),
Ross Spano (R),
Bryan Steil (R),
Chris Stewart (R),
Van Taylor (R),
Tom Tiffany (R),
Scott Tipton (R),
Ann Wagner (R),
Mark Walker (R),
Michael Waltz (R),
Steve Watkins (R),
Brad Wenstrup (R),
Roger Williams (R),
Ron Wright (R),
Lee Zeldin (R),
Last Action
Referred to the House Committee on Ways and Means. (on 05/12/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/6802/all-info |
BillText | https://www.congress.gov/116/bills/hr6802/BILLS-116hr6802ih.pdf |
Bill | https://www.congress.gov/116/bills/hr6802/BILLS-116hr6802ih.pdf.pdf |
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