S.559

The American Investment in Manufacturing and Main Street Act permanently extends the allowance for depreciation, amortization, or depletion for.

The American Investment in Manufacturing and Main Street Act, also known as the AIMM Act, amends the Internal Revenue Code to permanently extend the allowance for depreciation, amortization, or depletion for determining the income limitation on the deduction for business interest. This change applies to taxable years beginning after December 31, 2021, and removes the previous limitation that was set to expire before January 1, 2022.