To amend the Internal Revenue Code of 1986 to encourage immediate investments in new manufacturing and other productive equipment by temporarily allowing an investment tax credit to taxpayers who increase the amount of such investments.
Competitiveness Tax Credit Act - Amends the Internal Revenue Code to allow an investment tax credit for manufacturing and other productive equipment based upon a determination of the domestic origin of such property.
Makes such credit applicable for the two-year period beginning on the date of enactment of this Act.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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