Permanent extension of allowance for depreciation, amortization, or depletion in determining the limitation on business interest

(a) In general Section 163(j)(8)(A)(v) of the Internal Revenue Code of 1986 is amended by striking in the case of taxable years beginning before January 1, 2022,. (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2021.