AIM Act

HR 2788, the AIM Act, permanently extends a tax provision allowing businesses to deduct certain depreciation, amortization, or depletion costs when calculating their business interest expense limits. This change directly affects businesses that calculate business interest deductions under the Internal Revenue Code. The bill removes the previous expiration date (for taxable years beginning before January 1, 2022), making the deduction rule permanent for all future taxable years. It does not alter the underlying tax rules but ensures the specific deduction method remains available indefinitely.