ALIGN Act

Hozzl · 2022-02-09T02:27:59Z

Explore the details of Senate Bill 3296 ALIGN Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

2/9/2022, 2:27 AM

Congressional Summary of S 3296

Accelerate Long-term Investment Growth Now Act or the ALIGN Act

This bill makes permanent the expensing of certain new business equipment. Expensing allows the deduction of the full amount of an expense item in the same taxable year.

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Current Status of Bill S 3296

Bill S 3296 is currently in the status of Bill Introduced since February 13, 2020. Bill S 3296 was introduced during Congress 116 and was introduced to the Senate on February 13, 2020. Bill S 3296's most recent activity was Read twice and referred to the Committee on Finance. as of February 13, 2020

Bipartisan Support of Bill S 3296

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3296

Primary Policy Focus

Taxation

Potential Impact Areas

- Business expenses

- Business investment and capital

- Income tax deductions

Alternate Title(s) of Bill S 3296

ALIGN Act

Accelerate Long-term Investment Growth Now Act

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, and for other purposes.