AIMM Act

The AIMM Act (S 559) permanently extends a tax rule allowing businesses to include depreciation, amortization, or depletion when calculating the limit on business interest deductions. This change removes a previous expiration date (for taxable years after 2021), making the provision applicable indefinitely for all future tax years. The bill directly affects businesses subject to the business interest deduction rules under the Internal Revenue Code. The key mechanism is a simple amendment to the tax code that eliminates the sunset clause, ensuring consistent treatment without altering other tax provisions.