Interest rates have risen significantly in recent years, making it more expensive for companies to borrow money. Under current tax rules, companies can't deduct as much of that interest as they used to, which essentially acts as a tax increase on businesses that use debt to fund expansion. This bill matters because it would lower the tax burden for companies that build things in America, potentially encouraging more domestic manufacturing and construction.

If this becomes law, businesses will have more cash on hand to reinvest, but the federal government will collect less tax revenue, potentially increasing the national deficit. If it doesn't pass, companies in 'heavy' industries will continue to face higher effective tax rates compared to service-oriented or tech companies that don't have to worry about expensive physical equipment and depreciation.