HOUSE 2571118th CongressReferred to the Subcommittee on Trade.

RAM Act of 2023

Last Action: 12/17/2024

Actions

2024-12-17Referred to the Subcommittee on Trade.
2023-04-10Referred to the House Committee on Ways and Means.
2023-04-10Introduced in House
2023-04-10Introduced in House

CRS Summary

As of 2023-04-10 (00)

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.

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