118th Congress Taxation
H.R. 2571: RAM Act of 2023
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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 Congressional Research Service, Library of Congress.
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Amendments
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Other bills by Bill Posey
History
- Introduced in the House by Bill Posey.
Show the full action history (3 actions)
- Referred to the Subcommittee on Trade.
- Introduced in House
- Referred to the House Committee on Ways and Means.