PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Telecommunications, Trade, and Consumer Protection, for a period to be subsequently determined by the Chairman.
Congressional Research Service
Version 00 · Introduced in House · Feb 4, 1997
Investment for America Act - Amends the Internal Revenue Code to reinstate a ten percent investment tax credit for domestic property placed in service after December 31, 1992. Defines domestic property as property completed in the United States, at least 60 percent of the basis of which is attributable to value added within the United States. Allows a tax credit for seven percent of the aggregate amount paid for the purchase of domestic durable goods. Limits such credit to $1,000. Permits a tax credit equal to qualified payments made for the purchase of an American automobile. Defines "qualified payments" as State or local sales tax imposed on the purchase of the automobile and interest on the automobile loan. Prohibits a product from bearing a label which suggests that it was made in America unless: (1) the product has been registered with the Department of Commerce; and (2) the Secretary of Commerce has determined that 60 percent of the product was manufactured in, and final assembly took place in, the United States. Requires the registry of American-made products with the Department of Commerce. Prescribes penalties for the fraudulent use of labels.
People & committees
Rep. Traficant, James A., Jr. [D-OH-17] · D–OH
Legislative record
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Referred to the Subcommittee on Telecommunications, Trade, and Consumer Protection, for a period to be subsequently determined by the Chairman.
Referred to House Commerce
Referred to the Committee on Ways and Means, and in addition to the Committee on Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Ways and Means
Sponsor introductory remarks on measure. (CR E143)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.
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Analyze H.R.565 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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