A bill to amend the Internal Revenue Code of 1986 to disallow companies associated with foreign adversaries from receiving the advanced manufacturing production credit.
Protecting American Advanced Manufacturing Act
This bill prohibits companies associated with governments of foreign adversaries from receiving the advanced manufacturing production tax credit. This includes companies that are owned, controlled by, operated by, or under the influence of a foreign adversary, any company whose equity interests are held by a foreign adversary (not less than 10%), or any company that is controlled by a foreign adversary through certain debt, lease, or manufacturing arrangements.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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