This bill directs the Department of the Treasury to establish a program to treat amounts paid by U.S citizens or business entities to move their inventory, equipment, and supplies from China to the United States as items of expense, deductible in the year in which they are incurred. The cost of this expensing allowance shall be paid for with tariffs collected by the United States on goods manufactured in China.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
Administrative law and regulatory proceduresAsiaBusiness expensesChinaDepartment of the TreasuryGovernment trust fundsIncome tax deductionsTariffs
To allow expensing of amounts paid to move business property from China to the United States, and for other purposes.
USA116th CongressHR-6903| House
| Updated: 5/15/2020
This bill directs the Department of the Treasury to establish a program to treat amounts paid by U.S citizens or business entities to move their inventory, equipment, and supplies from China to the United States as items of expense, deductible in the year in which they are incurred. The cost of this expensing allowance shall be paid for with tariffs collected by the United States on goods manufactured in China.