AIM Act

Hozzl · 2023-12-15T15:57:17Z

Explore the details of House Bill 2788 AIM Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/15/2023, 3:57 PM

Summary of Bill HR 2788

The AIM Act, also known as Bill 118 hr 2788, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to address the issue of hydrofluorocarbons (HFCs), which are potent greenhouse gases that contribute to climate change.

The AIM Act aims to phase down the production and consumption of HFCs by establishing a regulatory framework that sets limits on the use of these harmful substances. The bill also includes provisions for the Environmental Protection Agency (EPA) to work with industry stakeholders to develop and implement strategies for reducing HFC emissions.

Additionally, the AIM Act provides funding for research and development of alternative technologies that can be used as substitutes for HFCs in various applications. This includes funding for the development of new refrigerants, air conditioning systems, and other products that do not rely on HFCs. Overall, the AIM Act is a bipartisan effort to address the urgent need to reduce greenhouse gas emissions and combat climate change. By phasing down the use of HFCs and promoting the development of alternative technologies, this bill aims to protect the environment and promote sustainable practices in the United States.

Congressional Summary of HR 2788

American Investment in Manufacturing Act or the AIM Act

This bill makes permanent the allowance for depreciation, amortization, or depletion for purposes of determining the income limitation on the tax deduction for business interest.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill HR 2788

Bill HR 2788 is currently in the status of Bill Introduced since April 20, 2023. Bill HR 2788 was introduced during Congress 118 and was introduced to the House on April 20, 2023. Bill HR 2788's most recent activity was Referred to the House Committee on Ways and Means. as of April 20, 2023

Bipartisan Support of Bill HR 2788

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 HR 2788

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 2788

AIM Act

American Investment in Manufacturing Act

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.