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HR 7410 117th Congress House Taxation Advanced technology and technological innovations Air quality Business investment and capital Health technology, devices, supplies Income tax credits Income tax rates Industrial policy and productivity Inflation and prices Manufacturing Prescription drugs Sales and excise taxes Trade restrictions U.S. and foreign investments Wages and earnings Water quality

American Made Medicine Act

Introduced: April 5, 2022 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 5, 2022
Referred to the House Committee on Ways and Means.
Apr 5, 2022
Introduced in House
 Plain-English summary Congressional Research Service

American Made Medicine Act

This bill allows employers tax credits for domestic medical and drug manufacturing expenses and for advanced medical manufacturing equipment. It also provides a tax credit for a percentage of the basis of qualifying medical manufacturing EPA compliance property placed in service before January 1, 2029, or during calendar year 2030.

The bill defines qualifying medical manufacturing EPA compliance property as depreciable property used by a taxpayer in the trade or business of manufacturing a drug, device, biological product, or active pharmaceutical ingredient or covered countermeasure (e.g., a qualified pandemic or epidemic product, security countermeasure, or respiratory protective device). The property must meet emissions limits under the Clean Air Act or wastewater standards under the Clean Water Act.

What's happening now April 5, 2022

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Republican 3