Responding directly to the requests of AMAC members to hold China accountable for the coronavirus pandemic, AMAC sent a letter to Congressman Chip Roy in support of H.R. 6690, the Bring Entrepreneurial Advancements To Consumers Here In North America Act (BEAT China). This bill outlines incentives for medical supply and pharmaceutical manufacturers to relocate their businesses to America from China and other foreign countries with the intent to put the United States more in control of the critical medical supply chain.
May 15, 2020
The Honorable Chip Roy
21st Congressional District of Texas
1319 Longworth House Office Building
Washington, DC 20515
Dear Congressman Roy,
On behalf of the 2.1 million members of AMAC – Association of Mature American Citizens, including over 9100 residing in TX-21, I write to offer our support for H.R. 6690, the Bring Entrepreneurial Advancements To Consumers Here In North America Act.
As you recognize, China is the largest exporter of medical devices to the United States and the second largest exporter of drugs and biologics. AMAC members have fervently voiced their concern to us about America’s over-dependence on China for medical supplies and have witnessed the effect this foreign reliance has had on first responders and patients during the coronavirus pandemic. Simply put, they want this dependence broken and are eager to “buy American.”
H.R. 6690 promotes the relocation of medical supply and pharmaceutical businesses from China and other foreign countries to the United States through the smart use of tax advantages. Giving relocating companies the opportunity to expense their property’s purchase in the United States in year one, which allows them to realize the maximum tax return on their investment, combined with protecting them from unnecessary taxation on income realized from the sale of assets to facilitate moving here, should attract the innovative and advanced industries needed to reinforce the American medical supply chain.
H.R. 6690 also protects the interests of American taxpayers by insisting that any relocating company must ramp up their production to meet the same levels in the United States as those of the country they moved from in order to qualify for the tax incentives.
Thank you, Congressman Roy, for acknowledging that Americans should never be at the mercy of a communist regime. AMAC appreciates your efforts to put America in control of its critical medical supply chain and is pleased to offer our organization’s full support for H.R. 6690, the Bring Entrepreneurial Advancements To Consumers Here In North America Act.
President, AMAC Action