To allow expensing of amounts paid to move business property from China to the United States, and for other purposes.
Referred to the House Committee on Ways and Means.
Congressional Research Service
Official summary
Version 00 · Introduced in House · May 15, 2020
This bill directs the Department of the Treasury to establish a program to treat amounts paid by U.S citizens or business entities to move their inventory, equipment, and supplies from China to the United States as items of expense, deductible in the year in which they are incurred. The cost of this expensing allowance shall be paid for with tariffs collected by the United States on goods manufactured in China.
Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.
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