Introduced
S. 1688
Introduced in Senate · May 20, 2025May 8, 2025
Mr. Barrasso (for himself, Mrs. Capito, Mrs. Blackburn, Mr. Lankford, Mr. Daines, Mr. Young, Mrs. Britt, Mr. Ricketts, Mr. Tuberville, Mr. Sheehy, Mr. Hoeven, and Mr. Cruz) introduced the following bill; which was read twice and referred to the Committee on Finance
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, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Short title.
This Act may be cited as the “Growing America’s Small Businesses and Manufacturing Act”.