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H.R. 508In committee
Bring American Companies Home Act
Introduced: Jan 16, 2025
Latest action date: Jan 16, 2025
Latest development
Referred to the House Committee on Ways and Means.
Your view
- Congress
- 119th Congress
- Introduced
- Jan 16, 2025
- Recorded roll calls
- 0
Status detail: The most advanced recorded stage is committee consideration.
Plain-language overview
What this bill does
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.
Civixly topics
What this legislation is about
Civixly topics make federal and state legislation comparable. They are derived from the official CRS policy area and legislative subjects.
Official CRS policy area
Taxation
Committee activity
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Official committee record ↗
Amendments
Proposed changes to this measure, with their latest official outcome or action from Congress.gov.
No amendments are listed for this measure.
Checked against Congress.gov Sep 13, 2026.
Action timeline
Newest action first. Action language comes from the official Congress.gov record.
View full action timeline3 actions
Referred to the House Committee on Ways and Means.
IntroReferralHouse floor actionsIntroduced in House
IntroReferralLibrary of CongressIntroduced in House
IntroReferralLibrary of Congress
Roll-call votes
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