ALIGN Act

The ALIGN Act (HR 2406) permanently allows businesses to deduct the full cost of qualified equipment and machinery in the year of purchase, rather than spreading the deduction over multiple years. This applies to property placed in service after September 27, 2017, directly affecting businesses that make capital investments in eligible assets like manufacturing equipment or commercial facilities. The bill eliminates the previous requirement to depreciate these costs over time, reducing taxable income in the purchase year. It makes a temporary 2017 tax provision permanent, impacting businesses across various industries that purchase qualifying property.