CHEERS Act of 2026

This bill falls squarely within the power of Congress to lay and collect taxes, duties, imposts, and excises, as granted by Article I, Section 8, Clause 1 of the Constitution. The classification of property for depreciation is a matter of tax policy, and the Congress has broad discretion in defining the terms and rates of taxation to promote the general welfare. As I argued in Federalist No. 30, the power of taxation is essential to the existence of the federal government, and the regulation of internal revenue, including depreciation schedules, is a proper exercise of that power. There is no …

The Constitution grants Congress the power to lay and collect taxes, duties, imposts, and excises (Article I, Section 8, Clause 1). However, the power to tax is not unlimited; it must be exercised for the general welfare and not to favor particular industries or activities. Classifying certain property for accelerated depreciation may be a permissible exercise of the taxing power if it serves a legitimate public purpose, such as encouraging energy efficiency. Yet, if this provision is merely a special interest subsidy that distorts the market and does not genuinely promote the general welfare,…

The power to tax and to prescribe rules for depreciation falls within the enumerated powers of Congress under Article I, Section 8, Clause 1, which grants the authority to lay and collect taxes. However, the classification of property for depreciation purposes must be consistent with the general welfare and not serve as a pretext for favoring particular factions or industries, as warned in Federalist No. 10. The bill's constitutionality depends on whether the classification is a genuine exercise of tax policy rather than an undue preference for a specific class of property that could undermine…

This bill modestly amends the Internal Revenue Code of 1986 to alter the depreciation classification of a specific category of property. The power to lay and collect taxes, and to provide for the general welfare, is vested in Congress by Article I, Section 8, Clause 1 of the Constitution. The classification of property for depreciation is a matter of fiscal policy within the scope of Congress's taxing power. Such classification does not exceed the powers delegated to the United States, nor is it prohibited by the Constitution. Moreover, the bill does not commandeer state legislatures or execut…