A Republican bill with 1 Democratic cosponsor · See the cosponsor
Last activity — Read twice and referred to the Committee on Finance.
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
- Introduced
- In Committee
What this bill would do
This bill, known as the "CIRCUIT Act," seeks to amend the Internal Revenue Code of 1986. The primary goal is to expand the advanced manufacturing production credit to include distribution transformers. It would allow taxpayers to claim a credit equal to 10 percent of the costs incurred during the production of these transformers. The changes would apply to components produced and sold after a specific timeframe following the Act's enactment.
Yes· 3 of 8
- Scored +5
Does this cut taxes for small businesses?
The bill provides a 10 percent tax credit for the costs of producing distribution transformers.
- Scored +5
Would business owners be better off under this?
Manufacturing businesses benefit from a new 10 percent production tax credit.
- Scored +4
Is this likely to create jobs?
Expanding production credits for transformers incentivizes domestic manufacturing activity.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Tax Credits for Manufacturers: Under Section 2(a)(1)(C), taxpayers would receive an amount equal to 10 percent of the costs incurred with respect to the production of a distribution transformer. This provides a financial incentive for the production of these specific components.
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Economy And Finance
- Does this cut taxes for small businesses? — The bill provides a 10 percent tax credit for the costs of producing distribution transformers. Does this make it easier to run a small business? — The manufacturing credit supports companies involved in the production of electrical infrastructure. Is this likely to create jobs? — Expanding production credits for transformers incentivizes domestic manufacturing activity. Is this likely to grow the economy? — The tax credit encourages investment in the advanced manufacturing sector.
- Demographic And Interest Groups
- Would business owners be better off under this? — Manufacturing businesses benefit from a new 10 percent production tax credit. Would people in cities be better off under this? — Modernizing the electrical grid via transformers can improve urban energy reliability.
- Environment Energy And Infrastructure
- Does this put more money into wind, solar and other renewable power? — Distribution transformers are critical components for connecting renewable energy sources to the grid. Does this improve buses, trains and other public transport? — Upgrading electrical infrastructure via distribution transformers supports modernized utility networks.
- 2/6/2025
- Read twice and referred to the Committee on Finance.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Catherine Cortez MastoDemocrat · Nevada