US Congress House Bill 5795 (Prior Session Legislation)

---

May 17 2012 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Rebuilding American Manufacturing Act of 2012 - Amends the Internal Revenue Code to allow taxpayers engaged in domestic manufacturing in the United States a tax deduction equal to 43% of the lesser of their domestic manufacturing income or their taxable income for the taxable year (thus effectively reducing their income tax rate from 35% to approximately 20%). 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 2012

Rep Kind, Ron	Rep Crowley, Joseph	Rep Larson, John B.	Rep Levin, Sander M.
Rep Lewis, John	Rep McDermott, Jim	Rep Neal, Richard E.	Rep Pascrell, Bill, Jr.
Rep Rangel, Charles B.	Rep Stark, Fortney Pete

Date	Chamber	Action
2012-05-17	House	Referred to the House Committee on Ways and Means.

Type	Source
Summary	http://thomas.loc.gov/cgi-bin/bdquery/z?d112:HN05795:@@@L&summ2=m&
Text	http://gpo.gov/fdsys/pkg/BILLS-112hr5795ih/pdf/BILLS-112hr5795ih.pdf