HR 1128
117th Congress
House
Taxation
Administrative law and regulatory procedures
Asia
Business expenses
China
Department of the Treasury
Government trust funds
Income tax deductions
Tariffs
To allow expensing of amounts paid to move business property from China to the United States, and for other purposes.
Introduced: February 18, 2021
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 18, 2021
Referred to the House Committee on Ways and Means.
Feb 18, 2021
Referred to the Subcommittee on Trade.
Feb 18, 2021
Introduced in House
Plain-English summary
This bill directs the Department of the Treasury to establish a program to treat amounts paid by U.S citizens or business entities to move their inventory, equipment, and supplies from China to the United States as items of expense, deductible in the year in which they are incurred. The cost of this expensing allowance shall be paid for with tariffs collected by the United States on goods manufactured in China.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
2
Cosponsors
1