Ask AI
Bill117th CongressFiled Jun 3, 2022International Affairs
H.R. 7935

Opportunities in the Americas Act

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
Floor
Both
Law

What it doesSummary introduced in house (Jun 3, 2022)

Opportunities in the Americas Act

This bill provides assistance to eligible companies relocating manufacturing from China to a qualifying Latin American or Caribbean country, generally a country in the region that has a free trade agreement with the United States and is not a foreign adversary.

For example, the U.S. International Development Finance Corporation must use at least 10 percent of its funding for each fiscal year to provide assistance, such as financing eligible costs for moving and workforce development, to businesses relocating manufacturing from China to a qualifying Latin American or Caribbean country, subject to various conditions and requirements.

The bill also provides tax benefits related to certain property acquired and placed in service in connection with such a relocation of manufacturing.

What just happenedJun 3, 2022

Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Who’s behind it

Rep. Espaillat, Adriano [D-NY-13](D-NY)Sponsor
5 cosponsors4 D1 R
Read on Congress.gov
5cosponsors2committees4actions29subjects
  1. Jun 3, 2022IntroReferralH11100

    Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Ways and Means Committee
  2. Jun 3, 2022IntroReferralH11100

    Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Foreign Affairs Committee
  3. Jun 3, 2022IntroReferralIntro-H

    Introduced in House

  4. Jun 3, 2022IntroReferral1000

    Introduced in House

Opportunities in the Americas Act — Informed