This bill would change one sentence in the Internal Revenue Code that affects how "adjusted taxable income" is defined for the limit on business interest. It removes clause (vi) and adjusts punctuation at clause (iv) in section 163(j)(8)(A) as amended by Public Law 119-21. The change would apply to taxable years beginning after December 31, 2025.
If you are a business that claims a deduction for business interest, this bill would alter how the limit on that deduction is calculated by changing the legal definition of adjusted taxable income. No publicly available information explains specific dollar or tax effects in the provided materials.
No publicly available information on federal budget costs or revenue effects is included in the provided bill text or metadata. No publicly available information on implementation costs for tax agencies is included.
The bill's short title and the sponsors listed in the bill metadata indicate the sponsors introduced it to repeal a recent modification to the adjusted taxable income definition. No further sponsor statements, reports, or analyses are included in the provided materials.
No publicly available information about objections, opposing arguments, or alternative views is included in the provided bill text or metadata.