Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
Senate Bill 1077
117th Congress(2021-2022)
Permanently Preserving America’s Investment in Manufacturing Act
Introduced
Introduced
Introduced in Senate on Apr 12, 2021
Overview
Text
Introduced in Senate 
Apr 12, 2021
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
Introduced in Senate(Apr 12, 2021)
Apr 12, 2021
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
Jump To
S. 1077 (Introduced-in-Senate)


117th CONGRESS
1st Session
S. 1077


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.

IN THE SENATE OF THE UNITED STATES

April 12, 2021

Mr. Blunt (for himself, Mr. Portman, Mr. Lankford, and Mr. Inhofe) 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.

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 “Permanently Preserving America’s Investment in Manufacturing Act”.

SEC. 2. Permanent extension of allowance for depreciation, amortization, or depletion in determining the limitation on business interest.

(a) In general.—Section 163(j)(8)(A)(v) of the Internal Revenue Code of 1986 is amended by striking “in the case of taxable years beginning before January 1, 2022,”.

(b) Effective date.—The amendment made by this section shall apply to taxable years beginning after December 31, 2021.