H.R. 6903 · 116th Congress
To allow expensing of amounts paid to move business property from China to the United States, and for other…
Full title
To allow expensing of amounts paid to move business property from China to the United States, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GreenSponsorNo cosponsors.
This bill 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.
What it does: CRS summary · Introduced in House · May 15, 2020
This bill 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To allow expensing of amounts paid to move business property from China to the United States, and for other purposes.
Latest action (May 15, 2020): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 15, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.