H.R. 2571 · 118th Congress
RAM Act of 2023
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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
PoseySponsorNo cosponsors.
Reshoring American Manufacturing Act of 2023 or the RAM Act of 2023
What it does: CRS summary · Introduced in House · Apr 10, 2023
Reshoring American Manufacturing Act of 2023 or the RAM Act of 2023
This bill 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 2026.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: RAM Act of 2023
Also known as: Reshoring American Manufacturing Act of 2023
Latest action (Dec 17, 2024): Referred to the Subcommittee on Trade.
Policy area: Taxation · Origin: House · Introduced: Apr 10, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.