RAM Act of 2023

The RAM Act of 2023 creates a federal tax credit for U.S. manufacturers moving eligible manufacturing equipment from China to the United States. It provides a 100% tax credit (phasing down to 80% in 2025 and 60% in 2026) for transportation costs and import duties related to this relocation, with a $25 million annual limit per company. The credit applies only to equipment previously used in China for manufacturing tangible goods and relocated to U.S. facilities for continued manufacturing. The provision expires after 2026, and manufacturers must maintain the equipment in the U.S. for three years to retain the credit.