Washington — Heritage Action released the following statement from Executive Director Tim Chapman in support of the Accelerate Long-term Investment Growth Now (ALIGN) Act:
The ALIGN Act is an opportunity for Congress to continue one of the most pro-worker, pro-growth tax reforms ever passed. The Tax Cuts and Jobs Act allowed businesses to immediately expense the full costs of capital investments, promoting private investment and contributing to our historic pace of wage and employment growth. Unfortunately, that rule is set to phase out in 2022 — unless lawmakers do something about it. The ALIGN Act would not only make full and immediate expensing permanent law, but it would also expand the category of eligible expenses to include capital improvements.
American families are benefiting from a historic economic expansion. By passing the ALIGN Act and making a commonsense tax reform permanent, lawmakers can make sure workers keep enjoying the fruits of that growth for years to come.