Bill · S. 448· Senate(119-S-448)
CIRCUIT Act
- Introduced
- 2/6/2025
- Last activity
- 2/6/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Jerry Moran
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill, known as the "CIRCUIT Act," seeks to amend the Internal Revenue Code of 1986. The primary goal is to expand the advanced manufacturing production credit to include distribution transformers. It would allow taxpayers to claim a credit equal to 10 percent of the costs incurred during the production of these transformers. The changes would apply to components produced and sold after a specific timeframe following the Act's enactment.
Yes· 3 of 8
Does this cut taxes for small businesses?+5
The bill provides a 10 percent tax credit for the costs of producing distribution transformers.
Would business owners be better off under this?+5
Manufacturing businesses benefit from a new 10 percent production tax credit.
Is this likely to create jobs?+4
Expanding production credits for transformers incentivizes domestic manufacturing activity.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Tax Credits for Manufacturers: Under Section 2(a)(1)(C), taxpayers would receive an amount equal to 10 percent of the costs incurred with respect to the production of a distribution transformer. This provides a financial incentive for the production of these specific components.
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Reduces Small Business Taxes+5Improves Small Business Support+4Increases Job Creation+4Improves Economic Growth+3
- Demographic And Interest Groups
- Good For Business Owners+5Good For Urban Residents+2
- Environment Energy And Infrastructure
- Increases Renewable Energy Investment+3Improves Public Transit+2
- 2/6/2025
- Read twice and referred to the Committee on Finance.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Catherine Cortez MastoDemocrat · Nevada