Restricting Tax Credits for Advanced Manufacturing Linked to Foreign Entities.
This bill amends tax law to prevent companies from claiming manufacturing tax credits if the components or technology used are sourced from specific foreign entities deemed concerning. The goal is to ensure that US tax incentives primarily support domestic supply chains and manufacturing independence. This measure indirectly supports the growth of domestic industries.
Key points
Manufacturers lose tax credits if advanced components are produced by designated "foreign entities of concern."
Battery components specifically lose eligibility if the underlying technology (design, license, supply) comes from these restricted foreign entities.
Expired
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