S 3324
115th Congress
Senate
Transportation and Public Works
Administrative law and regulatory procedures
Buy American requirements
Canada
Consumer affairs
Corporate finance and management
Department of Transportation
Foreign and international corporations
Government information and archives
Income tax deductions
Lease and rental services
Manufacturing
Motor vehicles
Retail and wholesale trades
Taxation of foreign income
Unemployment
American Cars, American Jobs Act of 2018
Introduced: August 1, 2018
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 1, 2018
Introduced in Senate
Aug 1, 2018
Read twice and referred to the Committee on Finance.
Plain-English summary
American Cars, American Jobs Act of 2018
This bill establishes in the National Highway Traffic Safety Administration the American Cars, American Jobs Program. Under the program, the Department of Transportation must issue vouchers of $3,500 to offset the purchase or lease price of a new automobile made in the United States if at least 45% of the automobile's parts come from the United States or Canada and assembly of the automobile occurs in the United States.
The bill amends the Internal Revenue Code to disallow a tax deduction for the global low-tax income of certain foreign subsidiaries of U.S. automakers whose profits exceed a specified percentage of their value.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1