H.R. 590 · 117th Congress
RAM Act of 2021
- Stage
- In committee
- Sponsor
- Bill Posey
- Introduced
- 2021-01-28
- Latest action
- 2021-01-28 · Introduced in House
Summary
Reshoring American Manufacturing Act of 2021 or the RAM Act of 2021
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 2024.