H.R. 2940 · 113th Congress
Rebuilding American Manufacturing Act of 2013
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KindSponsor9 cosponsors · 9 D
D
Davis
SL
D
Levin
JL
D
Lewis
JL
D
Larson
JM
D
McDermott
RN
D
Neal
BP
D
Pascrell
CR
D
Rangel
AS
D
Schwartz9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Rebuilding American Manufacturing Act of 2013 - Amends the Internal Revenue Code to allow taxpayers engaged in domestic manufacturing in the United States a tax deduction equal to 50.5% (43% for C corporations) of the lesser of their domestic manufacturing income or their taxable income for the taxable year (thus effectively reducing their income tax rate…
What it does: CRS summary · Introduced in House · Aug 1, 2013
Rebuilding American Manufacturing Act of 2013 - Amends the Internal Revenue Code to allow taxpayers engaged in domestic manufacturing in the United States a tax deduction equal to 50.5% (43% for C corporations) of the lesser of their domestic manufacturing income or their taxable income for the taxable year (thus effectively reducing their income tax rate to approximately 20%). Limits the amount of such deduction to 25% of such taxpayer's qualifying domestic investment (defined as the sum of the taxpayer's W-2 wages and certain allowable tax deductions, excluding any amounts not properly allocable to the taxpayer's domestic manufacturing gross receipts).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Rebuilding American Manufacturing Act of 2013
Latest action (Aug 1, 2013): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Aug 1, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.