Bring American Companies Home Act This bill allows United States persons (i.e., U.S. citizens or residents, partnerships, corporations, estates and trusts) to expense the cost of moving inventory, equipment, and supplies from China to the United States. Expensing is the tax rule that allows a taxpayer to deduct costs in the year in which they are incurred.
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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
Bring American Companies Home Act
USA118th CongressHR-1676| House
| Updated: 3/21/2023
Bring American Companies Home Act This bill allows United States persons (i.e., U.S. citizens or residents, partnerships, corporations, estates and trusts) to expense the cost of moving inventory, equipment, and supplies from China to the United States. Expensing is the tax rule that allows a taxpayer to deduct costs in the year in which they are incurred.