House Republicans’ tax bill released Monday would revive a trio of expired or expiring tax breaks popular with businesses.
The legislation would restore companies’ ability to immediately deduct full costs for the purchase of certain business property, along with domestic research and development. It also would allow companies to include amortization and depreciation when calculating a limit on business interest deductions.
All three provisions would apply at the beginning of 2025 and extend through at least 2029.
The breaks were included in last year’s bipartisan tax bill that advanced with bipartisan support in the House but died in the Senate. ...