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H.R. 7166

BillFederalHouseIn Committee
To amend the Internal Revenue Code of 1986 to provide for extended expensing of pharmaceutical manufacturing property, and for other purposes.
About This Bill
Committee
Latest Action · March 18, 2022
Referred to the House Committee on Ways and Means.
Congress
117th (2021–2023)
Introduced
March 18, 2022
Cosponsors (1)
1D 0R
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Summary

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Make Medicine in America Again Act This bill provides tax incentives for the manufacture of pharmaceutical property, equipment, buildings, or facilities in the United States. Specifically it allows bonus depreciation for such property and a business-related tax credit for 50% of expenditures for (1) wages for services performed in a U.S. pharmaceutical manufacturing business, (2) the tangible personal property of such a business, and (3) any direct or indirect costs paid or incurred in a U.S. pharmaceutical manufacturing business.

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