Growing America’s Small Businesses and Manufacturing Act

Hozzl · 2025-06-06T18:23:27Z

Explore the details of Senate Bill 1688 Growing America’s Small Businesses and Manufacturing Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

6/6/2025, 6:23 PM

Summary of Bill S 1688

This bill, designated as S. 1688 in the 119th Congress and introduced on May 8, 2025, aims to amend the Internal Revenue Code of 1986. Its primary objective is to permanently extend the allowance for depreciation, amortization, or depletion for the income limitation calculation on the deduction for business interest.

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Current Status of Bill S 1688

Bill S 1688 is currently in the status of Bill Introduced since May 8, 2025. Bill S 1688 was introduced during Congress 119 and was introduced to the Senate on May 8, 2025. Bill S 1688's most recent activity was Read twice and referred to the Committee on Finance. (text: CR S2841) as of May 8, 2025

Bipartisan Support of Bill S 1688

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 1688

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 1688

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 and for other purposes.