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Tax Credits for Reshoring Manufacturing from China to US

This act introduces a tax credit for companies that choose to move 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 in the manufacturing sector.
Key points
Companies can receive a tax credit for the costs of transporting manufacturing equipment from China to the US.
The credit amount depends on the year of relocation: 100% in 2023-2024, 80% in 2025, and 60% in 2026.
The maximum credit amount is $25 million per year per company.
If the equipment is moved out of the US again within 3 years, the credit must be repaid.
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Additional Information
Print number: 118_HR_2571
Sponsor: Rep. Posey, Bill [R-FL-8]
Process start date: 2023-04-10
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

RAM Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2571.

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 2023-04-10.

What are the main provisions?

Key points include:

  • Companies can receive a tax credit for the costs of transporting manufacturing equipment from China to the US.
  • The credit amount depends on the year of relocation: 100% in 2023-2024, 80% in 2025, and 60% in 2026.
  • The maximum credit amount is $25 million per year per company.
  • If the equipment is moved out of the US again 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 Subcommittee on Trade.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Taxes Economy Labor