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TEAMS Act
12/30/2022, 3:04 AM
Summary of Bill HR 6309
Under the TEAMS Act, federal agencies would be required to develop and implement performance management systems that focus on team-based goals and objectives. These systems would be designed to encourage collaboration, communication, and accountability among team members.
Additionally, the TEAMS Act would require federal agencies to provide training and support for employees to help them effectively work in a team-based environment. This training would focus on developing skills such as communication, problem-solving, and conflict resolution. Overall, the TEAMS Act aims to improve the efficiency and effectiveness of federal agencies by promoting teamwork and collaboration among employees. This bill is currently being reviewed by Congress and may be subject to amendments before it is passed into law.
Congressional Summary of HR 6309
Trade Encourages Allied Manufacturing and Security Act or the TEAMS Act
This bill directs the U.S. Trade Representative (USTR) to take certain actions to strengthen supply chains for critical goods. It also incentivizes the manufacturing of critical goods.
Specifically, the bill requires the USTR to develop and implement a strategy to support the resilience, diversity, security, and strength of supply chains. This strategy must be submitted to Congress and published on the USTR's website.
Additionally, the bill authorizes the USTR to provide duty-free treatment for any eligible article (i.e., any critical good that is the growth, product, or manufacture of a beneficiary country) from any ally or key international partner. This authority terminates on September 30, 2030.
The bill temporarily allows for increased expensing of the costs of certain qualified manufacturing property.
The bill also allows a new tax credit for American security products manufactured in the United States or in ally or key international partner countries.