Tax deductions for companies moving production from China to the US
This bill aims to encourage American companies to relocate their operations, including inventory and equipment, from China back to the United States. These companies will be able to deduct the costs of such relocation from their taxes. The funds for these deductions are intended to come from tariffs collected on goods manufactured in China, aiming to support domestic production and create jobs in the US.
Key points
Companies moving production from China to the US can deduct relocation costs from taxes.
The program is to be funded by tariffs collected on Chinese goods.
The goal is to support the American economy and create domestic jobs.
Expired
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