HOUSE 508119th CongressReferred to the House Committee on Oversight and Government Reform.
Supporting the designation of the week of September 14 through September 20, 2025, as "National Truck Driver Appreciation Week".
- Last Action
- 6/12/2025
Actions
- 2025-01-16Referred to the House Committee on Ways and Means.
- 2025-01-16Introduced in House
- 2025-01-16Introduced in House
CRS Summary
As of 2025-01-16 (00)
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.
Sourced from Congress.gov (public domain).
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