Bill > HR2652

This bill, called the Bring Entrepreneurial Advancements To Consumers Here In North America Act, aims to provide tax incentives for manufacturers relocating operations to the United States and establish permanent full expensing for certain business property. The bill introduces two main provisions: first, it creates accelerated depreciation for nonresidential real property used in manufacturing relocations, allowing companies to write off these investments more quickly for tax purposes. Manufacturers who move production from a foreign country to the United States can treat qualifying property as a 20-year asset and apply bonus depreciation, provided they maintain or increase their production levels. Second, the bill makes full expensing (100% tax deduction) permanent for qualified property placed in service after September 27, 2017, which means businesses can immediately deduct the full cost of eligible capital investments in the year they are purchased. Additionally, the bill provides a tax benefit that allows manufacturers to exclude capital gains from the sale of property associated with relocating manufacturing operations to the United States. These provisions are designed to encourage domestic manufacturing, incentivize business investment, and potentially create more jobs within the United States.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2652/all-info