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H.R. 3938 118th Congress House

Build It in America Act

Official title: To amend the Internal Revenue Code of 1986 to encourage economic growth.

Introduced: June 9, 2023 Introduced by: Jason Smith Republican · Missouri See on congress.gov
Taxation Accounting and auditingAlternative and renewable resourcesAsiaChina
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CubaElectric power generation and transmissionEuropeForeign and international corporationsHybrid, electric, and advanced technology vehiclesIncome tax creditsIncome tax deductionsIncome tax ratesIranLatin AmericaMiddle EastNorth KoreaRussiaTaxation of foreign incomeVenezuela
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 30, 2023
Placed on the Union Calendar, Calendar No. 99.
Jun 30, 2023
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-127.
Jun 13, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 18.
Jun 13, 2023
Committee Consideration and Mark-up Session Held
Jun 9, 2023
Introduced in House
Jun 9, 2023
Referred to the House Committee on Ways and Means.
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 Latest action June 30, 2023

Placed on the Union Calendar, Calendar No. 99.

 Plain-English summary Congressional Research Service

Build It in America Act

This bill provides for tax incentives to encourage investment in the United States.

The bill permits the expensing of research and experimental expenditures (including software development costs) through 2025. It extends (1) the allowance for depreciation, amortization, or depletion in determining the limitation on business interest; and (2) the 100% bonus depreciation allowance.

The bill terminates the hazardous substance Superfund financing rate. It allows a taxpayer election to disregard specified regulations when determining if any tax is an income, war profits, or excess profits tax.

The bill imposes a 60% excise tax on buyers of U.S. farmland by citizens of a country of concern (e.g., a state supporter of terrorism) or by a private business entity that is 10% or more owned by a citizen or business entity domiciled in a country of concern.

The bill repeals the clean electricity production tax credit, the clean electricity investment tax credit, the tax credit for previously owned clean vehicles, and the tax credit for qualified commercial clean vehicles. It modifies provisions of the clean vehicle tax credit, including those relating to the base amount and battery capacity.

 Related & companion bills 3
  • HR 4029 Supply Chain Security Act
  • HR 3996 To amend the Internal Revenue Code of 1986 to impose a tax on the acquisition of United States agricultural interests b…
  • S 1942 Pay Less at the Pump Act
 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 29

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

  • CMS ENERGY CORP
    for CMS ENERGY CORP · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
  • CMS ENERGY CORP
    for CMS ENERGY CORP · District of Columbia · 2nd Quarter 2026 (Apr 1 - June 30)
  • CMS ENERGY CORP
    for CMS ENERGY CORP · District of Columbia · 1st Quarter 2026 (Jan 1 - Mar 31)
  • CMS ENERGY CORP
    for CMS ENERGY CORP · District of Columbia · 4th Quarter 2025 (Oct 1 - Dec 31)
  • ITC HOLDINGS CORP.
    for ITC HOLDINGS CORP · Michigan · 4th Quarter 2025 (Oct 1 - Dec 31)
  • ASSOCIATED BUILDERS AND CONTRACTORS, INC.
    for ASSOCIATED BUILDERS AND CONTRACTORS INC · District of Columbia · 4th Quarter 2025 (Oct 1 - Dec 31)

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 29 filings →
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3938: Build It in America Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-3938/
MLA
"H.R. 3938: Build It in America Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-3938/.
Bluebook (legal)
H.R. 3938, 118th Cong. (2026), https://openamerica.io/bill/118-HR-3938/.
Markdown link
[H.R. 3938: Build It in America Act](https://openamerica.io/bill/118-HR-3938/)
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