S. 1166 117th Congress Senate

ALIGN Act

Official title: A bill to amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in qualified property is made.

Introduced: April 15, 2021 See on congress.gov

Taxation Business expensesBusiness investment and capitalIncome tax deductions

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 15, 2021

Read twice and referred to the Committee on Finance.

Apr 15, 2021

Introduced in Senate

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Latest action April 15, 2021

Read twice and referred to the Committee on Finance.

Plain-English summary Congressional Research Service

Accelerate Long-term Investment Growth Now Act or the ALIGN Act

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.

Related & companion bills 4