part of general business credit Subsection (b) of section 38 of the Internal Revenue Code of 1986 is amended by striking plus at the end of paragraph (40), by striking the period at the end of paragraph (41) and inserting , plus , and by adding at the end the following new paragraph: (42) the qualifying re-shoring and near-shoring expense credit determined under section 45BB(a). . (c) Clerical amendment The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec. 45BB. Qualifying re-shoring and near-shoring expenses. . (d) Effective date The amendments made by this section shall apply to amounts paid or incurred in taxable years beginning after the date of the enactment of this Act. 2 Free trade expansion 221. Tariff reciprocity under GATT 1994 (a) Sense of Congress It is the sense of Congress that— (1) the United States has one of the lowest applied duty rates in the world, with bound duty rates set in parity to applied rates