The legislative package will end tax breaks for Chinese stocks, restrict sanctioned Chinese companies’ access to U.S. capital markets, increase transparency on risks to American corporations, and reduce exposure to these risks for retail investors and other Americans saving for retirement.
“Our tax code is supposed to support American manufacturers in building out genuine domestic supply chains. It shouldn’t be exploited by the Chinese Communist Party,” said Brown.
In January, the House of Representatives will vote on whether or not to close the current “water’s edge” loophole written into state tax law.
Congress must act to prohibit Chinese companies from receiving Inflation Reduction Act tax credits.
Chinese solar manufacturers could take advantage of the Inflation Reduction Act’s tax credits by opening plants in the United States.
Will the Inflation Reduction Act further solidify Chinese multinationals as the indisputable champions of global ‘green tech’ manufacturing?
Rep. Jason Smith puts globalist companies on notice for profit shifting. Says Chairmanship at House Ways & Means will focus on “shoring up” supply chains.
Shein’s Fast Fashion business reminds me of the barker in Pinocchio, (to paraphrase) “Get your tank tops, dress, sweaters, and t-shirts! Buy all you can! Be a glutton! Stuff your bags! Hurry, hurry, hurry, hurry!” Who could imagine that a small order-fulfillment Chinese company with almost no garment manufacturing experience would become the world’s largest…
WASHINGTON — The Coalition for a Prosperous America (CPA) today applauded the selection of U.S. Representative Jason Smith (R-MO) to serve as the Chairman of the House Ways and Means Committee for the 118th Congress. The powerful committee has jurisdiction over tax and trade issues. As Bloomberg reported, “Smith, who advocates positioning the GOP as…
Urges Biden Administration to Robustly Enforce U.S. Trade Policy WASHINGTON — The Coalition for a Prosperous America (CPA) today applauded an announcement by First Solar, the largest American solar manufacturer, that it plans to invest up to $1.2 billion in scaling production of American-made, responsibly-produced photovoltaic (PV) solar modules. As first reported by The Wall…
