S. 4221 — Introduced in Senate

II 119th CONGRESS 2d Session S. 4221 IN THE SENATE OF THE UNITED STATES March 26, 2026Mrs. Capito (for herself, Mr. Cornyn, Mrs. Blackburn, and Mr. Husted) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to repeal the modification of the definition of adjusted taxable income for purposes of the limitation on business interest. 1. Short title This Act may be cited as the Ensuring Better Interest Treatment and Deductibility Act (EBITDA). 2. Repeal of modification to definition of adjusted taxable income for purposes of the limitation on business interest (a) In general Section 163(j)(8)(A) of the Internal Revenue Code of 1986, as amended by Public Law 119–21, is amended by inserting and at the end of clause (iv) and by striking clause (vi). (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2025.