ALIGN Act

The ALIGN Act (S 1117) permanently allows businesses to immediately deduct the full cost of qualified property (like equipment or machinery) purchased and placed in service after September 27, 2017, instead of depreciating it over time. This tax provision directly affects businesses that invest in qualifying assets, reducing their taxable income in the year of purchase. The bill amends the Internal Revenue Code to set a 100% "applicable percentage" for these deductions, making the change permanent. Conforming updates to related tax code sections ensure the provision works with existing rules, effective as if included in prior legislation.