US HB7594 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on July 13 2020 - 25% progression, died in committee
Action: 2020-07-13 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 13 2020 - 25% progression, died in committee
Action: 2020-07-13 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allows business taxpayers a tax credit, up to $25 million in a taxable year, for the cost of eligible reshoring expenses. The bill defines eligible reshoring expenses as amounts paid for the transportation (including any import duties, fees, or tariffs imposed with respect to such transportation) of manufacturing equipment from China to the United States. The credit expires after 2023.
Title
RAM Act of 2020 Reshoring American Manufacturing Act of 2020
Sponsors
| Rep. Bill Posey [R-FL] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-07-13 | House | Referred to the House Committee on Ways and Means. |
| 2020-07-13 | House | Referred to the Subcommittee on Select Revenue Measures. |
| 2020-07-13 | House | Introduced in House |
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/7594/all-info |
| Text | https://www.congress.gov/116/bills/hr7594/BILLS-116hr7594ih.pdf |
