HR 7410 United States House · 117th Congress

American Made Medicine Act

Summary
American Made Medicine Act This bill allows employers tax credits for domestic medical and drug manufacturing expenses and for advanced medical manufacturing equipment. It also provides a tax credit for a percentage of the basis of qualifying medical manufacturing EPA compliance property placed in service before January 1, 2029, or during calendar year 2030. The bill defines qualifying medical manufacturing EPA compliance property as depreciable property used by a taxpayer in the trade or business of manufacturing a drug, device, biological product, or active pharmaceutical ingredient or covered countermeasure (e.g., a qualified pandemic or epidemic product, security countermeasure, or respiratory protective device). The property must meet emissions limits under the Clean Air Act or wastewater standards under the Clean Water Act.
Bill status in committee 1 of 4 stages cleared
Introduction
Apr 2022
Committee Review
Floor Vote
President
Introduced Apr 5, 2022 Last action Apr 5, 2022
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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Apr 5, 2022
Committee
Referred to the House Committee on Ways and Means.
lower
Apr 5, 2022
Introduced
Introduced in House
lower
1 primary · 4 co-sponsors

Sponsors