To amend the Internal Revenue Code of 1986 to restrict the advanced manufacturing production credit with respect to components produced by, or in connection with, foreign entities of concern.
Latest Action
Referred to the House Committee on Ways and Means.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™This bill, H.R. 9338 from the 118th Congress, proposes an amendment to the Internal Revenue Code of 1986 to restrict eligibility for the advanced manufacturing production credit. Specifically, it aims to exclude components produced by or in connection with foreign entities of concern from qualifying for this tax credit. The bill was introduced in the House and referred to the House Committee on Ways and Means but has since failed or expired. No full text or official summary is available to provide further detail on the scope or definitions used in the bill.
H.R. 9338 sought to limit tax credits for advanced manufacturing by excluding components linked to certain foreign entities, but it did not advance beyond committee referral and has expired.
- The bill targets the advanced manufacturing production credit within the Internal Revenue Code.
- It restricts the credit's applicability to components associated with foreign entities of concern.
- The bill was referred to the House Committee on Ways and Means but did not progress further and is now expired.
['Domestic advanced manufacturing companies producing components without involvement from foreign entities of concern', 'U.S. government agencies overseeing tax credits and manufacturing policy']
["Lack of detailed definitions for 'foreign entities of concern' may complicate implementation and enforcement.", 'Potential administrative challenges in verifying the origin and connections of manufacturing components.', 'No information on cost implications or funding mechanisms is available.', "The bill's failure to advance limits clarity on oversight provisions or enforcement mechanisms."]
The bill was introduced in the House during the 118th Congress and referred to the House Committee on Ways and Means, which handles tax legislation. It did not advance beyond this stage and is now classified as failed or expired. The bill relates to taxation policy, specifically tax credits aimed at promoting domestic advanced manufacturing.
Hidden impact flags detected: 2
GovScope reviewed 2 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['Potential reduction in eligibility for the advanced manufacturing production credit could incentivize manufacturers to source components domestically or from non-foreign entities of concern.', 'Increased administrative burden on manufacturers and tax authorities to document and verify component origins.', 'Possible impacts on supply chains involving foreign entities identified as concerns, affecting related industries.']
The absence of a full bill text and official summary limits detailed analysis. Transparency would be improved by providing definitions for key terms such as 'foreign entities of concern' and clarifying enforcement and oversight mechanisms. Monitoring the administrative feasibility and cost implications of implementing such restrictions is important for assessing the bill's practical impact.
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