The ALIGN Act would make permanent a tax benefit that allows businesses to immediately deduct the full cost of investments in equipment and property when purchased, rather than spreading the deduction over several years. Currently, this "full expensing" benefit is set to gradually phase out, with the deduction percentage declining from 100 percent to lower levels in future years. This bill would lock in 100 percent expensing indefinitely, meaning businesses can write off qualifying investments at the time they're made. The legislation primarily benefits companies and farms that purchase equipment, machinery, and structures by reducing their tax burden on capital investments. The bill has no explicit new spending or revenue attached, as it operates through the tax code, and it would be effective retroactively to align with previous tax changes made in 2017.
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