The bill H. R. 8504 proposes an amendment to the Internal Revenue Code of 1986 to introduce a tax credit aimed at encouraging the reshoring of critical supply chain facilities back to the United States. This tax credit would cover 40% of the investment made in property that...
Simple Explanation
The bill wants to give a big tax break to companies that build or improve factories in certain parts of the U.S., like Puerto Rico, to make important things, such as medicines and computer chips, so that these items are made closer to home.