H.R. 1347, also known as the American Investment in Manufacturing and Main Street Act (AIMM Act), is a bill introduced to modify the Internal Revenue Code of 1986. The bill aims to make permanent the allowance for depreciation, amortization, or depletion when...
Simple Explanation
H.R. 1347 is a plan that helps businesses by letting them keep using a special money-saving trick called depreciation forever. This means they can keep more money when they pay their taxes, starting from 2022.