S. 559

Summary

S. 559, the AIMM Act, was introduced in the Senate on Feb 13, 2025 by Sen. Shelley Capito (R). It was referred to Finance, and last saw action on Feb 13, 2025: Read twice and referred to the Committee on Finance.

Record

Text

S. 559 has no co-sponsors and has not gone to a roll call.

119 S559 IS: American Investment in Manufacturing and Main Street Act
 U.S. Senate
 2025-02-13
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 559  IN THE SENATE OF THE UNITED STATES   February 13, 2025   Mrs. Capito  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.
1.
Short title
This Act may be cited as the   American Investment in Manufacturing and Main Street Act   or the   AIMM Act  .
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.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

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.

Sponsors

Sen. Shelley Capito (R) sponsors S. 559 alone.

Shelley Capito

Sen. · R–WV · Sponsor

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Committees

S. 559 went before 1 committee: Finance.

Finance

Finance

Referred To · Feb 13, 2025 · 902 Bills

Actions

S. 559 has taken 2 actions since Feb 13, 2025.

Votes

S. 559 has not gone to a roll call.

Related bills

1 bill is related to S. 559, as Identical bill.

HR 1347AIMM ActFeb 13, 2025 · Referred to the House Committee on Ways and Means. · Identical bill

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Titles

S. 559 goes by 4 titles, 2 of them short titles.

• AIMM Act — Display Title
• AIMM Act — Short Title(s) as Introduced
• American Investment in Manufacturing and Main Street Act — Short Title(s) as Introduced
• 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. — Official Title as Introduced

Lobbying

31 clients hired 18 firms and 218 registered lobbyists who named S. 559 in 109 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Taxation/Internal Revenue Code, Trade (domestic/foreign), Labor Issues/Antitrust/Workplace, Budget/Appropriations, Immigration, Telecommunications, Transportation, Communications/Broadcasting/Radio/TV.

Clients

Who paid to be heard, by how many filings named the bill. The 20 that filed most often, of 31.

Firms

Registrants who filed on the bill, by filings.

Lobbyists

Named on the filings that cite the bill. The 20 named most often, of 218.

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

Classification

The Congressional Research Service files S. 559 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 559’s is Taxation.

Source: congress.gov · legiscan.com