HR 8971
INFANT Tax Credit Act
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The INFANT Tax Credit Act aims to encourage domestic production of infant formula by creating two new tax credits. First, it establishes a 25% investment credit for businesses that build or significantly improve domestic infant formula manufacturing facilities, subject to certain revenue limitations. Second, it introduces a production credit of $1.50 per pound of eligible infant formula manufactured and sold in the United States, also with revenue restrictions. The bill also requires the Secretary of Agriculture to report on the impact of these incentives and any barriers to accessing rural development programs for related businesses.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Dean Phillips
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.