3.0.0 2534 2023-01-11T13:36:43Z 2023-01-11T13:36:43Z House HR 2017-05-18 115 [Congressional Record Volume 163, Number 86 (Thursday, May 18, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. KIND:H.R. 2534.Congress has the power to enact this legislation pursuantto the following:Article I, Section 7, Clause 1``All Bills for raising Revenue shall orginate in the Houseof Representatives''[Page H4359]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-05-18T14:04:40Z 2017-05-18 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-05-18 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-05-18 Introduced in House IntroReferral 1000 9 Library of Congress K000188 Rep. Kind, Ron [D-WI-3] RON KIND D WI 3 N P000096 Rep. Pascrell, Bill, Jr. [D-NJ-9] WILLIAM PASCRELL D NJ J. 9 2017-05-18 True D000617 Rep. DelBene, Suzan K. [D-WA-1] Suzan DelBene D WA K. 1 2017-05-18 True L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2017-05-25 False Taxation Business investment and capital Income tax deductions Income tax rates Manufacturing Taxation 00 2017-05-18 Introduced in House 2017-06-05T14:25:50Z Rebuilding American Manufacturing Act of 2017

This bill amends the Internal Revenue Code to allow taxpayers engaged in domestic manufacturing in the United States a tax deduction equal to 50.5% (43% for C corporations) of the lesser of their domestic manufacturing income or their taxable income for the taxable year (thus effectively reducing their income tax rate to approximately 20%). The bill limits the amount of such deduction to 25% of such taxpayer's qualifying domestic investment (defined as the sum of the taxpayer's W-2 wages and certain allowable tax deductions, excluding any amounts not properly allocable to the taxpayer's domestic manufacturing gross receipts).

]]> Rebuilding American Manufacturing Act of 2017 Display Title Rebuilding American Manufacturing Act of 2017 Official Title as Introduced To amend the Internal Revenue Code of 1986 to reduce the rate of tax on domestic manufacturing income to 20 percent. Introduced in House IH Short Titles as Introduced Rebuilding American Manufacturing Act of 2017 Introduced in House 2017-05-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2534ih/xml/BILLS-115hr2534ih.xml 2017-05-18 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.