American Business Competitiveness Act of 2015

This bill amends the Internal Revenue Code to:

• reduce the tax rate on the net business income of individual and corporate taxpayers to a maximum 25%;
• allow full expensing of deductible investment expenses in the current taxable year;
• redefine "net business income" to allow the deduction of the cost of business purchases;
• convert to a territorial system for taxing overseas income;
• apply the same tax rate to interest income of individuals that is applicable to dividends and capital gains income; and
• allow a five-year carryback of net operating losses and an indefinite carryforward of such losses.