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United States · Bill · HR

H.R. 6309 (117th)

TEAMS Act

referredUnited States· United States Congress· EN

Introduced

16 December 2021

Last action

16 December 2021 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Kinzinger, Adam [R-IL-16]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Trade Encourages Allied Manufacturing and Security Act or the TEAMS Act This bill directs the U.S. Trade Representative (USTR) to take certain actions to strengthen supply chains for critical goods. It also incentivizes the manufacturing of critical goods. Specifically, the bill requires the USTR to develop and implement a strategy to support the resilience, diversity, security, and strength of supply chains. This strategy must be submitted to Congress and published on the USTR's website. Additionally, the bill authorizes the USTR to provide duty-free treatment for any eligible article (i.e., any critical good that is the growth, product, or manufacture of a beneficiary country) from any ally or key international partner. This authority terminates on September 30, 2030. The bill temporarily allows for increased expensing of the costs of certain qualified manufacturing property. The bill also allows a new tax credit for American security products manufactured in the United States or in ally or key international partner countries.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 16 December 2021

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 16 December 2021

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 16 December 2021

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 16 December 2021

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  • Introduced in House (PDF)

    Introduced in House · EN · 16 December 2021

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 16 December 2021

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Sponsors

Related records

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Sources

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