Bill > HR4128

This bill amends the Internal Revenue Code to expand the advanced manufacturing production credit to include distribution transformers, which are electrical devices used to transfer and modify electrical voltage in power distribution systems. Specifically, the bill provides a tax credit equal to 10 percent of the production costs for manufacturers of distribution transformers. The credit would apply to distribution transformers produced and sold 90 days after the bill's enactment, as defined by the Energy Policy and Conservation Act. By offering this tax incentive, the bill aims to support and potentially boost domestic manufacturing of critical electrical infrastructure components. The CIRCUIT Act (Credit Incentives for Resilient Critical Utility Infrastructure and Transformers Act) seeks to encourage investment in and production of distribution transformers, which play a crucial role in the electrical grid's reliability and efficiency.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4128/all-info