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S 187
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ALIGN Act

To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in qualified property is made.

Introduced Jan 22, 2025

Latest action (Jan 22, 2025) Read twice and referred to the Committee on Finance.

Referred to
Finance Committee
Policy area
Taxation
Issues
Economy & Taxes

Summary

This bill permanently allows businesses to fully deduct the cost of qualified property investments in the year they are made, rather than depreciating the cost over multiple years. The provision, known as full expensing or 100 percent bonus depreciation, was temporarily enacted as part of the 2017 Tax Cuts and Jobs Act with scheduled phase-outs. This bill makes the full expensing provision permanent by setting the applicable percentage to 100 percent indefinitely. The change applies to property placed in service after September 27, 2017, and includes conforming amendments to remove phase-out provisions.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
13 cosponsors

Actions (2)
  1. Jan 22, 2025 Read twice and referred to the Committee on Finance. · senate
  2. Jan 22, 2025 Introduced in Senate

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • HR 574 — ALIGN Act · Introduced Jan 21, 2025 · Cong. 119 86%
  • S 2095 — PARTNERSHIPS Act · Introduced Jun 17, 2025 · Cong. 119 76%
  • S 213 — Main Street Tax Certainty Act · Introduced Jan 23, 2025 · Cong. 119 76%
  • S 1219 — USA CAR Act · Introduced Apr 1, 2025 · Cong. 119 76%
  • S 2358 — IRS Accountability and Taxpayer Protection Act · Introduced Jul 21, 2025 · Cong. 119 74%
  • S 627 — ENABLE Act · Introduced Feb 19, 2025 · Cong. 119 74%

Full text

IN THE SENATE OF THE UNITED STATES

January 22, 2025

Mr. Lankford (for himself, Mr. Daines, Mr. Barrasso, Mrs. Blackburn, Mr. Young, Mr. Grassley, Mr. Marshall, Mrs. Capito, Mr. Risch, and Mr. Boozman) 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 allow a tax deduction at the time an investment in qualified property is made.

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 “Accelerate Long-term Investment Growth Now Act” or the “ALIGN Act”.

SEC. 2. PERMANENT FULL EXPENSING FOR QUALIFIED PROPERTY.

(a) In General.—Paragraph (6) of section 168(k) of the Internal Revenue Code of 1986 is amended to read as follows:

“(6) Applicable percentage.—For purposes of this subsection, the term ‘applicable percentage’ means, in the case of property placed in service (or, in the case of a specified plant described in paragraph (5), a plant which is planted or grafted) after September 27, 2017, 100 percent.”.

(b) Conforming Amendments.—

(1) Section 168(k) of the Internal Revenue Code of 1986 is amended—

(A) in paragraph (2)—

(i) in subparagraph (A)—

(I) in clause (i)(V), by inserting “and” at the end,

(II) in clause (ii), by striking “clause (ii) of subparagraph (E), and” and inserting “clause (i) of subparagraph (E).”, and

(III) by striking clause (iii),

(ii) in subparagraph (B)—

(I) in clause (i)— (aa) by striking subclauses

(II) and (III), and (bb) by redesignating subclauses (IV) through (VI) as subclauses (II) through (IV), respectively,

(II) by striking clause (ii), and

(III) by redesignating clauses

(iii) and (iv) as clauses (ii) and

(iii), respectively,

(iii) in subparagraph (C)—

(I) in clause (i), by striking “and subclauses (II) and (III) of subparagraph (B)(i)”, and

(II) in clause (ii), by striking “subparagraph (B)(iii)” and inserting “subparagraph (B)(ii)”, and

(iv) in subparagraph (E)—

(I) by striking clause (i), and

(II) by redesignating clauses (ii) and (iii) as clauses (i) and (ii), respectively, and

(B) in paragraph (5)(A), by striking “planted before January 1, 2027, or is grafted before such date to a plant that has already been planted,” and inserting “planted or grafted”.

(2) Section 460(c)(6)(B) of such Code is amended by striking “which” and all that follows through the period and inserting “which has a recovery period of 7 years or less.”.

(c) Effective Date.—The amendments made by this section shall take effect as if included in section 13201 of Public Law 115-97. <all>

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