summary
Introduced
04/15/2021
04/15/2021
In Committee
04/15/2021
04/15/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in quali- fied property is made.
AI Summary
This bill, the Accelerate Long-term Investment Growth Now Act (ALIGN Act), proposes to permanently allow a tax deduction at the time an investment in qualified property is made. Specifically, it would amend the Internal Revenue Code to set the "applicable percentage" for calculating the deduction for qualified property placed in service after September 27, 2017 to 100 percent, effectively providing full expensing for such property. The bill also includes conforming amendments to other parts of the tax code related to the deduction. The amendments would take effect as if they were included in the Tax Cuts and Jobs Act passed in 2017.
Committee Categories
Budget and Finance
Sponsors (17)
Pat Toomey (R)*,
John Barrasso (R),
Roy Blunt (R),
John Boozman (R),
Mike Braun (R),
Kevin Cramer (R),
Ted Cruz (R),
Steve Daines (R),
John Neely Kennedy (R),
James Lankford (R),
Rob Portman (R),
Jim Risch (R),
Marco Rubio (R),
Tim Scott (R),
John Thune (R),
Thom Tillis (R),
Todd Young (R),
Last Action
Read twice and referred to the Committee on Finance. (on 04/15/2021)
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/117th-congress/senate-bill/1166/all-info |
| BillText | https://www.congress.gov/117/bills/s1166/BILLS-117s1166is.pdf |
| Bill | https://www.congress.gov/117/bills/s1166/BILLS-117s1166is.pdf.pdf |
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