American Cars, American Jobs Act of 2019
Summary
Official Summary
American Cars, American Jobs Act of 2019
This bill establishes in the National Highway Traffic Safety Administration the American Cars, American Jobs Program. Under the program, the Department of Transportation must issue vouchers of $3,500 to offset the purchase or lease price of a new automobile made in the United States if at least 45% of the automobile's parts come from the United States or Canada and assembly of the automobile occurs in the United States. The amount of the voucher for new qualified plug-in electric drive motor vehicles is $4,500.
The bill amends the Internal Revenue Code to disallow a tax deduction for the global low-tax income of certain foreign subsidiaries of U.S. automakers whose profits exceed a specified percentage of their value.
Bill texts
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Timeline
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, 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.
House of Representatives
Referred to the Subcommittee on Consumer Protection and Commerce.
House of Representatives
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