119th Congress · introduced in the House · Jan 16, 2025
Bring American Companies Home Act
Official title from Congress.gov
Latest action (Jan 16, 2025): Referred to the House Committee on Ways and Means.
View on Congress.govPolicy area: Taxation
Congressional Research Service summary, version: Introduced in House (Jan 16, 2025)
Bring American Companies Home Act
This bill requires the Department of the Treasury to establish a program and regulations allowing U.S. persons (U.S. citizens or residents, domestic partnerships or corporations, or estates and trusts) to deduct in the tax year incurred costs of moving inventory, equipment, and supplies used in a trade or business from China to the United States.
The bill also
• establishes a trust fund and appropriates to such fund tariff amounts collected by the United States on goods manufactured in China,
• appropriates from such trust fund to the general fund of the Treasury amounts equivalent to the reduction in revenue resulting from the tax deduction, and
• requires amounts to be transferred between funds at least monthly.
No cosponsors.
Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Actions from Congress.gov, newest first.
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