arrow_back Back to App

Tax Credits for Moving Manufacturing from China to USA

This act introduces a tax credit for companies that choose to relocate their factories and manufacturing equipment from China back to the United States. The goal is to encourage job creation and strengthen the domestic economy. Citizens may experience positive effects through increased availability of "Made in USA" products and potential job growth.
Key points
Companies moving manufacturing equipment from China to the U.S. can receive a tax credit.
The credit amount varies by year: 100% in 2021-2022, 80% in 2023, 60% in 2024.
The maximum credit per taxpayer per year is $25 million.
The credit covers transportation costs, including import duties and fees.
If equipment is moved out of the U.S. within 3 years, the credit must be repaid.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_590
Sponsor: Rep. Posey, Bill [R-FL-8]
Process start date: 2021-01-28
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

RAM Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_590.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-01-28.

What are the main provisions?

Key points include:

  • Companies moving manufacturing equipment from China to the U.S. can receive a tax credit.
  • The credit amount varies by year: 100% in 2021-2022, 80% in 2023, 60% in 2024.
  • The maximum credit per taxpayer per year is $25 million.
  • The credit covers transportation costs, including import duties and fees.
  • If equipment is moved out of the U.S. within 3 years, the credit must be repaid.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Posey, Bill [R-FL-8].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Economy