H.R. 1676 · 118th Congress
Bring American Companies Home Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GreenSponsorNo cosponsors.
This bill allows United States persons (i.e., U.S. citizens or residents, partnerships, corporations, estates and trusts) to expense the cost of moving inventory, equipment, and supplies from China to the United States. Expensing is the tax rule that allows a taxpayer to deduct costs in the year in which they are incurred.
What it does: CRS summary · Introduced in House · Mar 21, 2023
Bring American Companies Home Act
This bill allows United States persons (i.e., U.S. citizens or residents, partnerships, corporations, estates and trusts) to expense the cost of moving inventory, equipment, and supplies from China to the United States. Expensing is the tax rule that allows a taxpayer to deduct costs in the year in which they are incurred.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Bring American Companies Home Act
Latest action (Mar 21, 2023): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 21, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.