Make Medicine in America Again Act This bill provides tax incentives for the manufacture of pharmaceutical property, equipment, buildings, or facilities in the United States. Specifically it allows bonus depreciation for such property and a business-related tax credit for 50% of expenditures for (1) wages for services performed in a U.S. pharmaceutical manufacturing business, (2) the tangible personal property of such a business, and (3) any direct or indirect costs paid or incurred in a U.S. pharmaceutical manufacturing business.
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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
Make Medicine in America Again Act
USA117th CongressHR-7166| House
| Updated: 3/18/2022
Make Medicine in America Again Act This bill provides tax incentives for the manufacture of pharmaceutical property, equipment, buildings, or facilities in the United States. Specifically it allows bonus depreciation for such property and a business-related tax credit for 50% of expenditures for (1) wages for services performed in a U.S. pharmaceutical manufacturing business, (2) the tangible personal property of such a business, and (3) any direct or indirect costs paid or incurred in a U.S. pharmaceutical manufacturing business.