HR 7458
118th Congress
House
Taxation
Made in the U.S.A. Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 26, 2024
Referred to the House Committee on Ways and Means.
Feb 26, 2024
Introduced in House
Plain-English summary
Made in the U.S.A. Act
This bill allows certain individual taxpayers whose adjusted gross income does not exceed $125,000 ($250,000 in the case of a joint return) a tax credit for 30% of their expenditures, not exceeding $2,500, for products made in the United States. An expenditure for any product may not exceed $500 and excludes firearms, ammunition, alcohol, tobacco, vehicles, gasoline, luxury goods, food, or non-depreciable real property. The expenditure limit is increased to $1,000 for Energy Star or climate resilience products.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1