House Bill 6903
116th Congress(2019-2020)
To allow expensing of amounts paid to move business property from China to the United States, and for other purposes.
Introduced
Introduced in House on May 15, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6903
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
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.
May 15, 2020
05/15/2020
Referred to the House Committee on Ways and Means.
05/15/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:42:53 PM