S.683 - American Cars, American Jobs Act of 2019116th Congress (2019-2020) |
|Sponsor:||Sen. Brown, Sherrod [D-OH] (Introduced 03/06/2019)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 03/06/2019 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.683 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (03/06/2019)
American Cars, American Jobs Act of 2019
This bill establishes in the National Highway Traffic Safety Administration the American Cars, American Jobs Program. Under the program, the Department of Transportation must issue vouchers of $3,500 to offset the purchase or lease price of a new automobile made in the United States if at least 45% of the automobile's parts come from the United States or Canada and assembly of the automobile occurs in the United States. The amount of the voucher for new qualified plug-in electric drive motor vehicles is $4,500.
The bill amends the Internal Revenue Code to disallow a tax deduction for the global low-tax income of certain foreign subsidiaries of U.S. automakers whose profits exceed a specified percentage of their value.