The ALIGN Act (Accelerate Long-term Investment Growth Now Act) makes permanent a full tax deduction for businesses that invest in qualified property and equipment. Currently, businesses can deduct 100 percent of the cost of certain assets when they're placed into service, but this provision was set to phase down over time. This bill makes that full deduction permanent by locking in the deduction rate at 100 percent for all qualifying property placed in service after September 27, 2017. The legislation primarily benefits businesses and corporations by allowing them to immediately write off capital investments in equipment and machinery rather than depreciating the costs over many years. There is no specific funding amount or implementation timeline mentioned, as the bill operates through the tax code rather than appropriating funds.
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