Bring American Companies Home Act
Sponsored By: Representative Green (TN)
Introduced
Summary
Allows immediate tax deductions for U.S. companies that move inventory, equipment, and supplies from China back to the United States. It would pair that deduction with a tariff-funded trust to reimburse Treasury for the revenue loss.
Show full summary
- U.S. companies: U.S. persons could expense costs of moving business property from China in the year paid, lowering taxable income when they relocate inventory, equipment, or supplies.
- Treasury and federal finances: Tariffs on Chinese-made goods would be deposited into a newly created trust fund and amounts equal to the lost revenue would be appropriated from that fund to the General Fund.
- Administration and rules: The Department of the Treasury would set up the program and issue regulations that limit deductions to qualifying business moving expenses and require at least monthly fund transfers.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Tax write-off to move U.S. business from China
This bill would let U.S. businesses deduct what they pay to move inventory, equipment, and supplies from China to the United States. They could expense these moving costs in the year they pay them, which could lower taxable income for that year. Treasury would issue rules so only standard business moving expenses qualify. A new Treasury trust fund, fed by tariffs on goods made in China, would cover the lost tax revenue; this would not change the deduction for businesses.
Sponsors & CoSponsors
Sponsor
Green (TN)
TN • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.govTake It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in