The Secretary must issue rules to carry the subsection out
To provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70341, Sec. 70341.
Written by .
The Secretary must issue rules to carry the subsection out
The document says “shall”Who acts: Secretary of the TreasuryHow: statuteSec. 70341 in the PDF
What the document says
“The Secretary shall issue such regulations or guidance as may be necessary or appropriate to carry out the purposes of this subsection”
The section inserts a new paragraph (11) into section 163(j) of the Internal Revenue Code of 1986 requiring the Secretary to issue regulations or guidance to carry out the subsection, including on which business interest is taken into account under it and under section 59A(c)(3), and applies the amendments to taxable years beginning after December 31, 2025.
What the document actually says
“The Secretary shall issue such regulations or guidance as may be necessary or appropriate to carry out the purposes of this subsection”
That sentence, in plain words
The Secretary must write rules for this part. They must cover what the part needs to work.
What this is about
The rules must say which interest counts. The changes start with tax years after December 31, 2025. That date is fixed in the law.
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 Secretary must issue rules to carry the subsection out,” 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-regulations/ (retrieved October 10, 2026).
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