H.R. 1347

Summary

H.R. 1347, the AIMM Act, was introduced in the House on Feb 13, 2025 by Rep. Adrian Smith (R) with 21 co-sponsors. It was referred to Ways And Means, and last saw action on Feb 13, 2025: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 1347 has 21 co-sponsors.

119 HR 1347 IH: American Investment in Manufacturing and Main Street Act
 U.S. House of Representatives
 2025-02-13
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 1347  IN THE HOUSE OF REPRESENTATIVES   February 13, 2025   Mr. Smith of Nebraska  (for himself,  Mr. Morelle ,  Mr. Hern of Oklahoma ,  Mr. Schneider ,  Mr. Miller of Ohio ,  Mr. Feenstra ,  Mr. LaHood ,  Mr. Buchanan ,  Mr. Smucker ,  Mr. Moran ,  Mr. Kustoff ,  Mr. Carey ,  Ms. Strickland ,  Mr. Yakym ,  Mr. Panetta ,  Mr. Quigley , and  Ms. Tenney ) introduced the following bill; which was referred to the  Committee on Ways and Means    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.
1.
Short title
This Act may be cited as the   American Investment in Manufacturing and Main Street Act   or the   AIMM Act  .
2.
Permanent extension of allowance for depreciation, amortization, or depletion in determining the limitation on business interest
(a)
In general
 Section 163(j)(8)(A)(v)  of the Internal Revenue Code of 1986 is amended by striking  in the case of taxable years beginning before January 1, 2022, .
(b)
Effective date
The amendment made by this section shall apply to taxable years beginning after December 31, 2021.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

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.

Sponsors

Rep. Adrian Smith (R) sponsors H.R. 1347, and 21 members have co-sponsored it, 16 of them from the day it was introduced.

Adrian Smith

Rep. · R–NE-3 · Sponsor

Introduced Feb 13, 2025

Vern Buchanan

Rep. · R–FL-16 · Co-sponsor

Joined Feb 13, 2025 · Original

Mike Carey

Rep. · R–OH-15 · Co-sponsor

Joined Feb 13, 2025 · Original

Randy Feenstra

Rep. · R–IA-4 · Co-sponsor

Joined Feb 13, 2025 · Original

Kevin Hern

Rep. · R–OK-1 · Co-sponsor

Joined Feb 13, 2025 · Original

David Kustoff

Rep. · R–TN-8 · Co-sponsor

Joined Feb 13, 2025 · Original

Darin LaHood

Rep. · R–IL-16 · Co-sponsor

Joined Feb 13, 2025 · Original

Max Miller

Rep. · R–OH-7 · Co-sponsor

Joined Feb 13, 2025 · Original

Nathaniel Moran

Rep. · R–TX-1 · Co-sponsor

Joined Feb 13, 2025 · Original

Joseph Morelle

Rep. · D–NY-25 · Co-sponsor

Joined Feb 13, 2025 · Original

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Committees

H.R. 1347 went before 1 committee: Ways and Means.

Ways and Means

Ways and Means

Referred To · Feb 13, 2025 · 1,160 Bills

Actions

H.R. 1347 has taken 2 actions since Feb 13, 2025.

Votes

H.R. 1347 has not gone to a roll call.

Related bills

1 bill is related to H.R. 1347, as Identical bill.

S 559AIMM ActFeb 13, 2025 · Read twice and referred to the Committee on Finance. · Identical bill

Show 1 of 1 row

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Titles

H.R. 1347 goes by 4 titles, 2 of them short titles.

• AIMM Act — Display Title
• AIMM Act — Short Title(s) as Introduced
• American Investment in Manufacturing and Main Street Act — Short Title(s) as Introduced
• 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. — Official Title as Introduced

Lobbying

35 clients hired 21 firms and 196 registered lobbyists who named H.R. 1347 in 123 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Taxation/Internal Revenue Code, Trade (domestic/foreign), Labor Issues/Antitrust/Workplace, Budget/Appropriations, Telecommunications, Transportation, Consumer Issues/Safety/Products, Agriculture.

Clients

Who paid to be heard, by how many filings named the bill. The 20 that filed most often, of 35.

Firms

Registrants who filed on the bill, by filings.

Lobbyists

Named on the filings that cite the bill. The 20 named most often, of 196.

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

Classification

The Congressional Research Service files H.R. 1347 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 1347’s is Taxation.

Source: congress.gov · legiscan.com