The U.S. Chamber of Commerce has published a letter to the members of the U.S. Congress in support of the American Investment in Manufacturing (AIM) Act (Senate and House bills S. 1232 and H.R. 2788), which would reinstate the EBITDA-based interest deduction restriction under Section 163(j).
For tax years beginning before 2022, the adjusted taxable income computation for the restriction essentially limited the deduction of interest to 30% of EBITDA. For tax years beginning after 2021, the…