(a) In general.—Section 179(b) is amended—
(1) in paragraph (1), by striking “$1,000,000” and inserting “$2,500,000”, and
(2) in paragraph (2), by striking “$2,500,000” and inserting “$4,000,000”.
(b) Conforming amendments.—Section 179(b)(6)(A) is amended—
(1) by inserting “(2025 in the case of the dollar amounts in paragraphs (1) and (2))” after “In the case of any taxable year beginning after 2018”, and
(2) in clause (ii), by striking “determined by substituting ‘calendar year 2017’ for ‘calendar year 2016’ in subparagraph (A)(ii) thereof.” and inserting "determined by substituting in subparagraph (A)(ii) thereof—
“(I) in the case of amounts in paragraphs (1) and (2), ‘calendar year 2024’ for ‘calendar year 2016’, and
“(II) in the case of the amount in paragraph (5)(A), ‘calendar year 2017’ for ‘calendar year 2016’.”.
(c) Effective date.—The amendments made by this section shall apply to property placed in service in taxable years beginning after December 31, 2024.