US SB559

Permanently extends the allowance for depreciation, amortization, and depletion when calculating the business interest deduction limitation under Section 163(j) of the Internal Revenue Code

Removes the January 1, 2022 sunset date that currently restricts this tax treatment to earlier tax years

Applies retroactively to taxable years beginning after December 31, 2021

Allows businesses to use EBITDA (earnings before interest, taxes, depreciation, amortization, and depletion) rather than EBIT when determining how much business interest they can deduct