230517 S 1232 H R 2788 American Investmentin Manufacturing Act Congress
May 17, 2023
To the Members of the United States Congress:
The U.S. Chamber of Commerce strongly supports S. 1232 / H.R. 2788, the “American Investment in Manufacturing (AIM) Act.” These bills would reinstate the traditional earnings before interest, taxes, depreciation, and amortization (EBITDA) standard for calculating the limitation on the deduction for business interest expense.
As of 2022, businesses have been required to calculate their interest expense deductions based on the much more stringent earnings before interest and taxes (EBIT) standard. This limitation has made all forms of business investment more costly and risks leading to reduced investment, slower job creation, smaller wage increases, and lower overall economic growth.
The Chamber calls on Congress to immediately restore the traditional EBITDA standard for calculating the limitation on the deduction for business interest expense, and we urge you to cosponsor these important bills.
Neil L. Bradley
Executive Vice President, Chief Policy Officer,
and Head of Strategic Advocacy
U.S. Chamber of Commerce