HR 1676 · 118th Congress · Taxation

Bring American Companies Home Act

Introduced 2023-03-21· Sponsored by Rep. Green, Mark E. [R-TN-7]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2023-03-21)

Plain Language Summary

[AI summary unavailable — showing source text] Bring American Companies Home Act This bill allows United States persons (i.e., U.S. citizens or residents, partnerships, corporations, estates and trusts) to expense the cost of moving inventory, equipment, and supplies from China to the United States. Expensing is the tax rule that allows a taxpayer to deduct costs in the year in which they are incurred.…

Summarized by Claude AI · Non-partisan · For informational purposes only