Bill > HR1773

This bill, the Made in America Act of 2011, proposes several changes to the Internal Revenue Code to support businesses and encourage domestic production. Key provisions include making permanent the tax credit for increasing research activities, which incentivizes companies to invest in innovation, and increasing the alternative simplified tax credit rate for research expenses to 20%, while also eliminating a more complex incremental credit option. Additionally, the bill aims to make permanent the increased expensing allowance under Section 179, allowing businesses to deduct more of the cost of qualifying depreciable property in the year it's placed in service, which is particularly beneficial for small businesses. Finally, it seeks to reduce the maximum income tax rate for corporations, including personal service corporations (companies whose main function is providing services and are owned by their employees), to 30%. The bill also mandates the Comptroller General to conduct studies on the impact of workplace health care facilities on employee well-being and productivity, and on strategies to encourage college graduates from rural areas to return to their hometowns after graduation.