Increase in limitations on expensing of depreciable business assets

(a) In general Section 179(b) of the Internal Revenue Code of 1986 is amended— (1) by striking $1,000,000 in paragraph (1) and inserting $2,500,000, and (2) by striking $2,500,000 in paragraph (2) and inserting $4,000,000. (b) Inflation adjustment Section 179(b)(6)(A) of such Code is amended— (1) by striking 2018 and inserting 2025 (2018 in the case of the dollar amount in paragraph (5)(A)), and (2) by striking calendar year 2017 in clause (ii) thereof and inserting calendar year 2024 (calendar year 2017 in the case of the dollar amount in paragraph (5)(A)). (c) Effective date The amendments made by this section shall apply to property placed in service in taxable years beginning after December 31, 2024.