CLASS Act of 2025

House Bill

H.R. 3938

119th Congress

CLASS Act of 2025

In Committee

Introduced:Jun 11, 2025

Primary Sponsor

Chrissy Houlahan

Representative

Democratic

PA-6

Cosponsors

0

Quick Stats

Policy Area

Taxation

Summary

The Build It in America Act provides tax incentives to encourage investment in the United States. It extends tax deductions for research and development, as well as depreciation and bonus depreciation allowances. The bill also imposes a 60% excise tax on foreign buyers of U.S. farmland and repeals or modifies certain clean energy tax credits.

Latest Action

Placed on the Union Calendar, Calendar No. 99.

SponsorChrissy Houlahan (D-PA)

Introduced6/11/2025

StatusReferred to the Committee on Education and Workforce, and in addition to the Committee on the Judici

ChamberHouse

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Vote Prediction

CLASS Act of 2025

The Build It in America Act provides tax incentives to encourage investment in the United States. It extends tax deductions for research and development, as well as depreciation and bonus depreciation allowances. The bill also imposes a 60% excise tax on forei

Community Breakdown

Pass

0%

Fail

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The Build It in America Act provides tax incentives to encourage investment in the United States. It extends tax deductions for research and development, as well as depreciation and bonus depreciation allowances. The bill also imposes a 60% excise tax on foreign buyers of U.S. farmland and repeals or modifies certain clean energy tax credits.

Bill Number: 3938
Sponsor: Chrissy Houlahan (D-PA)
Introduced: 6/11/2025
Status: Referred to the Committee on Education and Workforce, and in addition to the Committee on the Judici
Policy Area: Taxation

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: CLASS Act of 2025
Bill Number: 3938
Sponsor: Chrissy Houlahan (D-PA)
Status: Referred to the Committee on Education and Workforce, and in addition to the Committee on the Judici
Introduced: 6/11/2025
Summary: The Build It in America Act provides tax incentives to encourage investment in the United States. It extends tax deductions for research and development, as well as depreciation and bonus depreciation allowances. The bill also imposes a 60% excise tax on foreign buyers of U.S. farmland and repeals o

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

The Build It in America Act provides tax incentives to encourage investment in the United States. It extends tax deductions for research and development, as well as depreciation and bonus depreciation allowances. The bill also imposes a 60% excise tax on foreign buyers of U.S. farmland and repeals or modifies certain clean energy tax credits.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Build It in America Act This bill provides for tax incentives to encourage investment in the United States. The bill permits the expensing of research and experimental expenditures (including software development costs) through 2025. It extends (1) the allowance for depreciation, amortization, or depletion in determining the limitation on business interest; and (2) the 100% bonus depreciation allowance. The bill terminates the hazardous substance Superfund financing rate. It allows a taxpayer election to disregard specified regulations when determining if any tax is an income, war profits, or excess profits tax. The bill imposes a 60% excise tax on buyers of U.S. farmland by citizens of a country of concern (e.g., a state supporter of terrorism) or by a private business entity that is 10% or more owned by a citizen or business entity domiciled in a country of concern. The bill repeals the clean electricity production tax credit, the clean electricity investment tax credit, the tax credit for previously owned clean vehicles, and the tax credit for qualified commercial clean vehicles. It modifies provisions of the clean vehicle tax credit, including those relating to the base amount and battery capacity.

Key Points

Main provisions of the bill

Extends tax deductions for research and development, depreciation, and bonus depreciation through 2025
Imposes a 60% excise tax on foreign buyers of U.S. farmland
Repeals or modifies certain tax credits for clean energy production and vehicles

How This Impacts Americans

Potential effects on citizens and communities

If passed, this bill would primarily benefit U.S. businesses by encouraging domestic investment and R&D. It would also make it more difficult for foreign buyers to purchase U.S. farmland. The changes to clean energy tax credits could impact the adoption of renewable energy and electric vehicles in the U.S.

Policy Areas

Primary Policy Area

Taxation

Related Subjects

Accounting and auditing

Alternative and renewable resources

Asia

China

Cuba

Electric power generation and transmission

Europe

Foreign and international corporations

Hybrid, electric, and advanced technology vehicles

Income tax credits

+9 more

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

3938, 119th Congress (2025). "CLASS Act of 2025". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-3938

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