S 4221 · 119th CongressIntroduced

Repeal of business interest deduction limit

Banking & Financial

The vote

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Worked the bill

$548M

24 groups · their total 2025 lobbying

In the distance

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Summary

What the bill does

This bill would undo a recent change to how businesses calculate their interest deduction limit. It would let companies use the old method, which includes depreciation and amortization, to figure out how much interest they can write off. The change would apply starting in 2026.

Why it matters

The stakes

The bill affects how much tax businesses pay. If passed, companies could deduct more interest, lowering their tax bills. This could free up cash for investment but also reduce government revenue.

Major public companies this covers

JPMorgan ChaseJPM
Bank of AmericaBAC
Goldman SachsGS
Morgan StanleyMS
CitigroupC
Wells FargoWFC

The debate

What each side says

Supporters

Repealing the new limit helps businesses deduct more interest, which can lower their taxes and free up money for growth and jobs.bill
The old method is simpler and more predictable for companies when planning their finances.report

Critics

Allowing larger interest deductions could reduce federal tax revenue, potentially increasing the deficit.report
The change may benefit highly leveraged companies more, which could encourage more borrowing and financial risk.report

Each point links to its source. The views are attributed to those sources, not stated as ours.

Follow the money

From this bill outward

The bill

where every tie is measured from

S 4221Repeal of business interest deduction limitBanking & Financial

Who paid lobbyists to work it

Direct tie24 groups · their total 2025 lobbying

Group	Issues	2025 lobbying (all issues)	Has PAC?
MORGAN STANLEY & CO LLC›Named in bill	BankingForeignDefense	$4.5M	✓MSPAC
JPMORGAN CHASE HOLDINGS LLC›Named in bill	BankingAgricultureOther	$4.4M	✓JCCP
GOLDMAN SACHS GROUP INC›Named in bill	BankingForeignOther	$4.0M	✓TGSGIPAC
STATE OF LOC NATION GLOBAL PUBLIC BENEFIT CORPORATION›	AdvocacyOtherBanking	$80M	✗No PAC
CHAMBER OF COMMERCE OF THE U.S.A.›	EnergyBankingForeign	$70M	✗No PAC
NATIONAL ASSOCIATION OF REALTORS›	Real EstateBankingInsurance	$54M	✓NAORPAC
BUSINESS ROUNDTABLE INC›	EnergyBankingHealth	$34M	✗No PAC
META PLATFORMS, INC. AND VARIOUS SUBSIDIARIES›	TechSports & MediaBanking	$26M	✗No PAC
AMERICAN HOSPITAL ASSOCIATION›	HealthOtherForeign	$25M	✓AHAP
AMERICAN MEDICAL ASSOCIATION›	HealthForeignOther	$23M	✗No PAC
AARP›	BankingHealthTech	$21M	✗No PAC
GENERAL MOTORS COMPANY›	TransportBankingForeign	$20M	✓GMC
AMERICAN CHEMISTRY COUNCIL›	BankingEnergyTransport	$19M	✓ACCP
CTIA - THE WIRELESS ASSOCIATION›	TechDefenseOther	$19M	✓CTWAPAC
AMAZON.COM SERVICES LLC›	BankingTechLabor	$18M	✓ASLSSFAP
AMERICA'S HEALTH INSURANCE PLANS, INC. (AHIP)›	HealthInsuranceBanking	$17M	✓AHIPIPAP
LOCKHEED MARTIN CORPORATION›	DefenseOtherBanking	$16M	✓LMP
RTX CORPORATION AND AFFILIATES›	DefenseOtherBanking	$14M	✗No PAC
PHARMACEUTICAL CARE MANAGEMENT ASSOCIATION›	HealthTransportBanking	$14M	✗No PAC
NCTA - THE INTERNET & TELEVISION ASSOCIATION›	TechBankingDefense	$14M	✓NTITAPACN
GENERAL DYNAMICS CORP›	DefenseLaborOther	$13M	✓GDCPACGDEP
AMGEN INC.›	HealthBankingTech	$13M	✓AIP
GOOGLE CLIENT SERVICES LLC›	OtherLaborTech	$13M	✗No PAC
COMCAST CORPORATION›	TechBankingOther	$13M	✓CCPAC

Election money, in the distance

Background · not tied to this billBanking & Financial PACs -> the members who voted

The background money view appears when a bill has a recorded vote and matching sector PAC data.

Lobbying filings, contributions, and votes are public records shown side by side. The further down the chain, the further the money is from this bill. This page does not assert that money caused any vote.