Investment for America Act

Summary

Investment for America Act - Amends the Internal Revenue Code to reinstate a ten percent investment tax credit for domestic property placed in service after December 31, 1992. Defines domestic property as property completed in the United States and at least 60 percent of the basis of the property is attributable to value added within the United States. Allows a tax credit for seven percent of the aggregate amount purchased of domestic durable goods. Limits such credit to $1,000. Permits a tax credit equal to qualified payments made for the purchase of an American automobile. Defines "qualified payments" as State or local sales tax imposed on the purchase of the automobile and interest on the automobile loan. Prohibits a product from bearing a label which suggests that it was made in America unless: (1) the product has been registered with the Department of Commerce; and (2) the Secretary of Commerce has determined that 60 percent of the product was manufactured in, and final assembly took place in, the United States. Requires the registry of American-made products with the Department of Commerce. Prescribes penalties for the fraudulent use of labels.

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Timeline

1. 23 February 1993

   Introduced

   Referred to the House Committee on Energy and Commerce.

   Source: IntroReferral

2. 23 February 1993

   Introduced

   Introduced in House

   Source: IntroReferral

3. 23 February 1993

   Introduced

   Introduced in House

   Source: IntroReferral

4. 9 March 1993

   Referred

   Referred to the Subcommittee on Commerce, Consumer Protection and Competitiveness.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 23 February 1993 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 23 February 1993

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 23 February 1993

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 23 February 1993

  Open at official source

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Traficant, James A., Jr. [D-OH-17] · D · Sponsor
• Rep. Bonior, David E. [D-MI-10] · D · Cosponsor
• Rep. Blackwell, Lucien E. [D-PA-2] · D · Cosponsor
• · hsif00 · Standing
• · hswm00 · Standing

Related records

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