Reshoring American Manufacturing Act of 2020 or the RAM Act of 2020
This bill allows business taxpayers a tax credit, up to $25 million in a taxable year, for the cost of eligible reshoring expenses. The bill defines eligible reshoring expenses as amounts paid for the transportation (including any import duties, fees, or tariffs imposed with respect to such transportation) of manufacturing equipment from China to the United States. The credit expires after 2023.
Introduced in House
Introduced in House
Referred to the Subcommittee on Select Revenue Measures.
Referred to the House Committee on Ways and Means.
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