A bill to amend the Internal Revenue Code of 1986 to allow a deduction of at least $15,000 for interest paid or accrued on indebtedness incurred to acquire a 50 percent or more ownership interest in a corporation.

Amends the Internal Revenue Code to allow an income tax deduction for interest paid or accrued on indebtedness incurred in the acquisition of a 50 percent or greater ownership interest in a corporation. Limits such deduction to the lesser of: (1) $15,000; or (2) the investment interest paid or accrued during the taxable year.