The allowed amount goes first to interest that would be capitalized
To provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70341, Sec. 70341.
Written by .
The allowed amount goes first to interest that would be capitalized
The document says “shall”Who acts: Secretary of the TreasuryHow: statuteSec. 70341 in the PDF
What the document says
“shall be applied first to the aggregate amount of business interest which would otherwise be capitalized, and”
The section provides that the amount allowed after the limitation goes first to the total business interest that would otherwise be capitalized, with any remainder going to the total business interest that would be deducted.
What the document actually says
“shall be applied first to the aggregate amount of business interest which would otherwise be capitalized, and”
That sentence, in plain words
What the cap lets through goes first to one kind of interest. That is interest the firm would add to an asset's cost.
What this is about
Only what is left over goes to deducted interest. So the order is fixed. It is not for the firm to pick.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Provide for reconciliation pursuant to title II of H. Con. Res. 14, Public Law 119-21, sec. 70341, 139 Stat. 207 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm
This page
“The allowed amount goes first to interest that would be capitalized,” Provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70341, Sec. 70341. Read the Mandate, https://readthemandate.org/pl-119-21/proposal/sec70341-order/ (retrieved October 10, 2026).
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