Blocking Tax Credits for Manufacturing Companies Linked to Foreign Adversaries.
This bill introduces new rules preventing companies connected to governments deemed hostile to the U.S. from receiving a specific tax credit intended for advanced manufacturing production. The goal is to strengthen national economic security and ensure that taxpayer money supports domestic or independent supply chains. This change aims to reduce foreign influence over the production of critical components in the U.S.
Key points
Companies with 10% or more ownership or control by foreign adversary governments will lose access to a key manufacturing tax credit.
The law aims to protect American industry and jobs by preventing U.S. tax dollars from funding competitors linked to hostile foreign powers.
The definition of a 'disqualified entity' is broad, covering equity interests, debt arrangements, leases, and other forms of financial or managerial influence.
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