AIM Act

This bill permanently extends a tax deduction for business interest expenses that was set to expire after 2021. It directly affects businesses that calculate their taxable income using this deduction, primarily larger corporations with significant interest payments. The key provision removes the expiration date from the tax code (Section 163(j)(8)(A)(v)), making the deduction available indefinitely for taxable years beginning after December 31, 2021. The bill does not change the deduction amount or create new requirements, only ensures the existing provision remains in effect permanently.