Bills · HR 524
IN COMMITTEE· 119TH CONGRESS
House BillHR 524Taxation
NO GOTION Act
INTRO JAN 16· LAST ACTION JAN 16
READING
2MIN
COSPONSORS
27
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it directly addresses concerns about national security and economic competition, particularly regarding the U.S.'s relationship with China, Russia, Iran, and North Korea. If this bill becomes law, it means U.S. tax incentives designed to grow the clean energy industry would no longer be available to companies with ties to these countries. This could shift investment towards purely domestic or allied-nation-linked companies for green energy development.
If the bill doesn't pass, companies with connections to these countries would continue to be eligible for U.S. green energy tax benefits, which some argue could inadvertently support the economies of these nations. The bill's outcome could influence the cost and availability of green energy components, the pace of green energy adoption, and the overall strategy for reducing foreign influence in critical U.S. industries.
KEY PROVISIONS
4AI-extractedPROVISION 01
Denies specific green energy tax benefits to 'disqualified companies.' This means a long list of tax credits and deductions for clean energy activities would not apply to these companies.
This provision directly removes financial incentives for companies linked to specific foreign countries in the U.S. clean energy sector.
PROVISION 02
Defines a 'disqualified company' as any entity created or organized in, or controlled by, one or more 'countries of concern,' or an entity controlled by another disqualified company.
This establishes clear criteria for which companies would lose access to the tax benefits, focusing on their origins and ownership.
PROVISION 03
Identifies the 'countries of concern' as the People's Republic of China, the Russian Federation, the Islamic Republic of Iran, and the Democratic People's Republic of Korea.
This explicitly names the four countries whose connections to companies would trigger the denial of tax benefits.
PROVISION 04
States that the changes made by this bill will apply to taxable years beginning after the date the bill becomes law.
This sets the timeframe for when these new rules would take effect for affected companies.
SPONSORSHIP
1 + 27
R· Michigan
YRS IN OFFICE
11
BILLS LED
49
COSPONSOR BREAKDOWNBIPARTISAN · 22%
DEM 3 REP 24 IND 0
ACTION TIMELINE
2 EVENTSJAN 16
Introduced in House
JAN 16
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 524
Congress119th
StatusIn Committee
IntroducedJan 16, 2025
Last actionJan 16, 2025
READER REACTIONS
OVERALL SENTIMENT
No reactions yet. Be the first to weigh in.
Discussion
Loading comments...
IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED JAN 16, 2025
House BillHR 524Taxation
NO GOTION Act
INTRODUCED JAN 16, 2025· LAST ACTION JAN 16, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
27
COMPLEXITY
Moderate
