To amend the Internal Revenue Code of 1986 to restore the 80-percent deduction for meal and entertainment expenses.

H.R. 3162 proposes an amendment to the Internal Revenue Code to increase the tax deduction for business-related meal and entertainment expenses from 50 percent to 80 percent. If enacted, this change would allow business owners and self-employed individuals to deduct a significantly larger portion of these costs from their taxable income. The bill aims to reduce the tax burden on businesses that rely on client meetings and travel, potentially encouraging more spending within the restaurant and hospitality industries.