S. 1407 · 115th Congress
Made in America Deduction Enhancement (MADE) Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CoonsSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code, with respect to the deduction for income attributable to domestic production activities, to allow an increased deduction for manufacturers that use materials produced in the United States during their production process.
What it does: CRS summary · Introduced in Senate · Jun 22, 2017
Made in America Deduction Enhancement (MADE) Act
This bill amends the Internal Revenue Code, with respect to the deduction for income attributable to domestic production activities, to allow an increased deduction for manufacturers that use materials produced in the United States during their production process.
The bill allows the increased deduction for taxpayers with a domestic input percentage that exceeds 75%.
A "domestic input percentage" is the ratio of: (1) domestically produced input costs, to (2) the total costs of direct material inputs included in the cost of goods sold which are allocable to gross receipts derived from qualified property (tangible personal property other than a film, computer software, sound recordings, a natural resource extracted by the taxpayer, or property produced in a farming business).
"Domestically produced input costs" are costs for materials which: (1) become an integral part of property produced by the eligible taxpayer; or (2) can be identified or associated with particular units or groups of units of property produced by the eligible taxpayer, if all or virtually all of the material is produced in the United States.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Made in America Deduction Enhancement (MADE) Act
Latest action (Jun 22, 2017): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jun 22, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.