Summary: H.R.7594 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.7594. Bill summaries are authored by CRS.

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Introduced in House (07/13/2020)

Reshoring American Manufacturing Act of 2020 or the RAM Act of 2020

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 2023.