To amend the Internal Revenue Code of 1986 to establish the critical supply chains reshoring investment tax credit.

Bill 119 HR 1328, also known as the Critical Supply Chains Reshoring Investment Tax Credit Act, aims to amend the Internal Revenue Code of 1986 in order to establish a tax credit for companies that bring their supply chains back to the United States. The bill is designed to incentivize businesses to reshore their critical supply chains, particularly in industries that are vital to national security and economic stability.

Under this legislation, companies that invest in reshoring their supply chains will be eligible for a tax credit to help offset the costs associated with relocating production back to the US. The tax credit will be based on a percentage of the eligible expenses incurred by the company in reshoring their supply chains.

The goal of this bill is to reduce the country's reliance on foreign suppliers for critical goods and services, and to strengthen domestic manufacturing capabilities. By encouraging companies to bring their supply chains back to the US, the bill aims to create more jobs, boost economic growth, and enhance national security. Overall, the Critical Supply Chains Reshoring Investment Tax Credit Act seeks to promote reshoring of critical supply chains and support American businesses in building a more resilient and self-sufficient economy.