RAM Act of 2021
Summary
Reshoring American Manufacturing Act of 2021 or the RAM Act of 2021 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 2024.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2021
Committee Review
Floor Vote
President
Introduced Jan 28, 2021
Last action Jan 28, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jan 28, 2021
Committee
Referred to the House Committee on Ways and Means.
lower
Jan 28, 2021
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor
Sponsors
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