Legislative Activity

The Bring American Companies Home Act incentivizes businesses to move operations from China to the United States by allowing them to immediately deduct the costs of relocation. A trust fund, financed by tariffs on Chinese goods, will be established within the Treasury to offset the revenue lost due to these deductions. The Secretary of the Treasury will create regulations to limit these deductions to business moving expenses.

The Western Hemisphere Nearshoring Act incentivizes companies to move operations from China to Latin America and the Caribbean by providing financial assistance, duty-free treatment, and tax benefits. To qualify, companies must commit to creating jobs, avoiding control by foreign adversaries, and relocating assets. The Act also directs the U.S. Trade Representative to prioritize trade agreement negotiations with countries that reduce illegal migration and economic dependence on China, and allows the sale of nuclear reactors to certain countries or corporations. Finally, the act establishes a trust fund using tariffs collected on goods from China to offset revenue losses resulting from assistance provided under this Act.

The Sunset Chevron Act mandates the Comptroller General to list all rules upheld by Chevron deference, and sets sunset dates for those rules, repealing them over time. It requires the Government Accountability Office (GAO) to create a list of rules that were upheld due to Chevron deference. The Act sets a timeline for the rules to expire and waives a Congressional Review Act period for expedited resolutions related to the identified rules.