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Protecting US Manufacturing: No Tax Credits for Foreign Adversary-Linked Firms

This bill aims to prevent companies linked to foreign adversaries from receiving advanced manufacturing tax credits in the US. This is intended to protect American industry and jobs, ensuring taxpayer money supports domestic businesses. Citizens may feel an indirect impact through a stronger local economy and national security.
Key points
Companies linked to governments or entities from countries deemed foreign adversaries will not be eligible for US manufacturing tax credits.
The definition of linked companies includes entities controlled by, having equity interests in, or influenced by foreign adversaries.
The goal is to support American production and prevent tax credits from benefiting entities that pose a national security risk.
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Expired
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Additional Information
Print number: 118_HR_6762
Sponsor: Rep. Miller, Carol D. [R-WV-1]
Process start date: 2023-12-13