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S. 1232 118th Congress Senate

AIM Act

Official title: A bill to amend the Internal Revenue Code of 1986 to permanently extend the allowance for depreciation, amortization, or depletion for purposes of determining … Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to permanently extend the allowance for depreciation, amortization, or depletion for purposes of determining the income limitation on the deduction for business interest.

Introduced: April 20, 2023 Introduced by: Shelley Moore Capito Republican · West Virginia See on congress.gov
Taxation
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 20, 2023
Read twice and referred to the Committee on Finance.
Apr 20, 2023
Introduced in Senate
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 Latest action April 20, 2023

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

American Investment in Manufacturing Act or the AIM Act

This bill makes permanent the allowance for depreciation, amortization, or depletion for purposes of determining the income limitation on the tax deduction for business interest.

 Related & companion bills 1
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1232: AIM Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-1232/
MLA
"S. 1232: AIM Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-1232/.
Bluebook (legal)
S. 1232, 118th Cong. (2026), https://openamerica.io/bill/118-S-1232/.
Markdown link
[S. 1232: AIM Act](https://openamerica.io/bill/118-S-1232/)
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