summary
Introduced
03/06/2019
03/06/2019
In Committee
03/06/2019
03/06/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to establish a voluntary program in the National Highway Traffic Safety Administration to encourage consumers to purchase or lease new automobiles made in the United States, and for other purposes. This bill establishes in the National Highway Traffic Safety Administration the American Cars, American Jobs Program. Under the program, the Department of Transportation must issue vouchers of $3,500 to offset the purchase or lease price of a new automobile made in the United States if at least 45% of the automobile's parts come from the United States or Canada and assembly of the automobile occurs in the United States. The amount of the voucher for new qualified plug-in electric drive motor vehicles is $4,500. The bill amends the Internal Revenue Code to disallow a tax deduction for the global low-tax income of certain foreign subsidiaries of U.S. automakers whose profits exceed a specified percentage of their value.
AI Summary
This bill establishes the American Cars, American Jobs Program in the National Highway Traffic Safety Administration. The program will provide vouchers of $3,500 (or $4,500 for new qualified plug-in electric drive vehicles) to consumers who purchase or lease new automobiles made in the United States, where at least 45% of the automobile's parts come from the United States or Canada and the assembly occurs in the United States. The bill also disallows a tax deduction for the global low-tax income of certain foreign subsidiaries of U.S. automakers whose profits exceed a specified percentage of their value, if the number of their full-time employees performing substantially all of their services inside the United States is less than the number of such employees on December 20, 2017.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Read twice and referred to the Committee on Finance. (on 03/06/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/683/all-info |
| BillText | https://www.congress.gov/116/bills/s683/BILLS-116s683is.pdf |
| Bill | https://www.congress.gov/116/bills/s683/BILLS-116s683is.pdf.pdf |
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