HR. 508In Committee
Bring American Companies Home Act
Requires Treasury to create a tax deduction program for moving business inventory equipment and supplies from China to the United States, backed by a dedicated tariff-funded trust fund
Plain-English overview
What this bill does
Requires Treasury to create a tax deduction program for moving business inventory equipment and supplies from China to the United States, backed by a dedicated tariff-funded trust fund
Key points
- Establish tariff trust fund
- Require Treasury regulations
- Transfer monthly fund amounts
- Allow relocation cost deductions
Current status
Where it stands
Status
In Committee
Latest action
2025-01-16 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedTaxation