Bill > HR5360

This bill, the "American Renaissance in Manufacturing Act," aims to boost American manufacturing and exports by providing tax relief, regulatory relief, and liability relief, while also ensuring access to affordable energy. Key provisions include lowering the corporate tax rate to 25%, making certain tax credits for research and development permanent, and allowing businesses to immediately deduct the cost of certain depreciable assets. The bill also seeks to curb regulatory burdens by requiring Congressional approval for "major rules" (defined as those with significant economic impacts, or those imposing a carbon tax) and by streamlining permitting processes for energy infrastructure projects, including natural gas pipelines and cross-border energy facilities with Canada and Mexico. Additionally, it addresses legal costs by increasing attorney accountability for frivolous filings and making patent litigation more transparent and efficient through stricter pleading requirements, fee shifting, and improved discovery rules. The bill also reorganizes the Department of the Interior's minerals management agencies to improve safety and revenue collection for offshore energy development and reforms the Outer Continental Shelf leasing program to encourage more domestic oil and gas production. Finally, it clarifies state authority over hydraulic fracturing regulations and establishes new rules for managing coal combustion residuals.