US HB6903 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on May 15 2020 - 25% progression, died in committee
Action: 2020-05-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 15 2020 - 25% progression, died in committee
Action: 2020-05-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Directs the Department of the Treasury to establish a program to treat amounts paid by U.S citizens or business entities to move their inventory, equipment, and supplies from China to the United States as items of expense, deductible in the year in which they are incurred. The cost of this expensing allowance shall be paid for with tariffs collected by the United States on goods manufactured in China.
Title
To allow expensing of amounts paid to move business property from China to the United States, and for other purposes.
Sponsors
| Rep. Mark Green [R-TN] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-05-15 | House | Referred to the House Committee on Ways and Means. |
| 2020-05-15 | House | Introduced in House |
Subjects
Administrative law and regulatory procedures
Asia
Business expenses
China
Department of the Treasury
Government trust funds
Income tax deductions
Tariffs
Taxation
Asia
Business expenses
China
Department of the Treasury
Government trust funds
Income tax deductions
Tariffs
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/6903/all-info |
| Text | https://www.congress.gov/116/bills/hr6903/BILLS-116hr6903ih.pdf |
