To provide for an emergency increase in Federal funding to State Medicaid programs for expenditures on home and community-based services.
In Committee
Introduced:Oct 3, 2025
Primary Sponsor
David P. Joyce
Representative
Republican
OH-14
Cosponsors
7
Quick Stats
Policy Area
Taxation
Summary
This bill would allow taxpayers to claim a tax credit for any taxes paid to certain countries in North, Central, or South America. This could make it easier for businesses and individuals to reduce their tax burden by deducting foreign taxes.
Latest Action
Referred to the House Committee on Ways and Means.
AI Summary
Plain-English explanation of this bill
This bill would allow taxpayers to claim a tax credit for any taxes paid to certain countries in North, Central, or South America. This could make it easier for businesses and individuals to reduce their tax burden by deducting foreign taxes.
Last updated: 12/29/2025
Official Summary
Congressional Research Service summary
<p> <strong>Supply Chain Security Act</strong></p> <p>This bill allows a taxpayer to make an election, without regard to specified Treasury regulations, for purposes of determining whether any Western Hemisphere tax is an income, war profits, or excess profits tax. A <em>Western Hemisphere tax</em> is any tax paid to any U.S. possession or any foreign country (other than Cuba or Venezuela) that is located in North, Central, or South America (including the West Indies).</p>
Key Points
Main provisions of the bill
Allows a tax deduction for 'Western Hemisphere taxes' paid to certain countries in North, Central, or South America
Removes restrictions on when this tax deduction can be claimed, making it more accessible
Could reduce the tax burden for businesses and individuals who pay taxes to eligible countries
How This Impacts Americans
Potential effects on citizens and communities
If passed, this bill would primarily benefit businesses and individuals who pay taxes to countries in the Western Hemisphere, as it would give them more flexibility to deduct those taxes from their U.S. tax liability. This could help reduce costs for companies that operate in the Americas and provide a tax break for Americans living or working abroad in eligible countries.
Policy Areas
Primary Policy Area
Taxation
Scope & Jurisdiction
Jurisdiction Level
federal
Congressional Session
119th Congress
Citation Reference
4029, 119th Congress (2025). "To provide for an emergency increase in Federal funding to State Medicaid programs for expenditures on home and community-based services.". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-4029
