This legislation seeks to make 100% bonus depreciation permanent under the Internal Revenue Code of 1986. Currently, bonus depreciation allows businesses to immediately deduct a percentage of the cost of eligible new and used property, but this percentage is scheduled to phase down over time. The bill amends Section 168(k) to set the "applicable percentage" at 100% for qualified property placed in service after September 27, 2017, effectively eliminating the scheduled reduction. This means businesses could continue to fully expense the cost of qualified investments in the year they are made, rather than depreciating them over several years. The measure includes conforming amendments to remove expiration dates and is intended to encourage business investment and economic expansion.