Protecting American Advanced Manufacturing Act

House Bill 6762 - Protecting American Advanced Manufacturing Act: Overview, Status, and Impact

Hozzl · 2024-03-08T08:15:23Z

Explore the details of House Bill 6762 Protecting American Advanced Manufacturing Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

3/8/2024, 8:15 AM

Congressional Summary of HR 6762

Protecting American Advanced Manufacturing Act

This bill prohibits companies associated with governments of foreign adversaries from receiving the advanced manufacturing production tax credit. This includes companies that are owned, controlled by, operated by, or under the influence of a foreign adversary, any company whose equity interests are held by a foreign adversary (not less than 10%), or any company that is controlled by a foreign adversary through certain debt, lease, or manufacturing arrangements.

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Current Status of Bill HR 6762

Bill HR 6762 is currently in the status of Bill Introduced since December 13, 2023. Bill HR 6762 was introduced during Congress 118 and was introduced to the House on December 13, 2023. Bill HR 6762's most recent activity was Referred to the House Committee on Ways and Means. as of December 13, 2023

Bipartisan Support of Bill HR 6762

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 6762

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 6762

Protecting American Advanced Manufacturing Act

To amend the Internal Revenue Code of 1986 to disallow companies associated with foreign adversaries from receiving the advanced manufacturing production credit.