CONGRESS FOR VOTERS

Russell Fry (R-SC)

CIRCUIT Act

H.R. 4128 · House bill Taxation

A Republican bill with 3 Democratic cosponsors · See all 4 cosponsors

Last activity — Referred to the House Committee on Ways and Means.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the "CIRCUIT Act," aims to amend the Internal Revenue Code of 1986. It proposes to expand the advanced manufacturing production credit to include distribution transformers. Specifically, it would allow for a credit equal to 10 percent of the costs incurred by a taxpayer for the production of these transformers. The amendment includes a specific definition for "distribution transformer" based on existing energy law. These changes would take effect for components produced and sold after 90 days following the bill's enactment.

Yes

  • Scored +4

    Would business owners be better off under this?

    The manufacturing tax credit provides a direct financial advantage to businesses involved in the production of distribution transformers.

  • Scored +3

    Is this likely to create jobs?

    The tax credit incentivizes domestic manufacturing, which can lead to increased production and job opportunities in the manufacturing sector.

  • Scored +2

    Is this likely to grow the economy?

    By incentivizing advanced manufacturing, the bill supports industrial growth and infrastructure development.

The opposite

  • Scored -1

    Does this reduce what the federal government spends?

    The implementation of a new tax credit represents a reduction in federal tax revenue.