S. 448, also known as the "Credit Incentives for Resilient Critical Utility Infrastructure and Transformers Act" or the "CIRCUIT Act," aims to modify the Internal Revenue Code of 1986. The bill seeks to expand the advanced manufacturing production credit by including...
Simple Explanation
In this bill, the government wants to give a special money reward to companies that make a specific type of electrical device called a "distribution transformer." This reward is like a 10% discount on how much it costs to make them, and it’s there to help encourage companies to make more of these important devices used to keep our electricity working well.