This legislation seeks to permanently extend the inclusion of depreciation, amortization, or depletion in the calculation of the income limitation for the business interest deduction . This change, which was previously temporary, would apply to taxable years beginning after December 31, 2024, providing a permanent adjustment to how businesses can deduct interest expenses. Furthermore, the bill significantly increases the maximum amounts businesses can immediately expense for depreciable business assets under Section 179 of the Internal Revenue Code. It raises the expensing limit from $1,000,000 to $2,500,000 and the phase-out threshold from $2,500,000 to $4,000,000, with these new limits subject to inflation adjustments starting in 2025 for property placed in service after December 31, 2024.