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Opportunities in the Americas Act

Introduced: June 3, 2022 Introduced by: Espaillat, Adriano Democratic · New York 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
Jun 3, 2022
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jun 3, 2022
Introduced in House
 Plain-English summary Congressional Research Service

Opportunities in the Americas Act

This bill provides assistance to eligible companies relocating manufacturing from China to a qualifying Latin American or Caribbean country, generally a country in the region that has a free trade agreement with the United States and is not a foreign adversary.

For example, the U.S. International Development Finance Corporation must use at least 10 percent of its funding for each fiscal year to provide assistance, such as financing eligible costs for moving and workforce development, to businesses relocating manufacturing from China to a qualifying Latin American or Caribbean country, subject to various conditions and requirements.

The bill also provides tax benefits related to certain property acquired and placed in service in connection with such a relocation of manufacturing.

What's happening now June 3, 2022

Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 2 Republican 1