The H.R. 701, known as the “Restoring Establishment Deductions and Uplifting Competition to Ease Food Prices Act” or the “REDUCE Food Prices Act,” aims to amend the Internal Revenue Code of 1986 to provide tax benefits for small food retail businesses operating in areas with...
Simple Explanation
This bill wants to help small food stores make more money by giving them special money gifts, like tax breaks, if they open or improve their stores in places where there aren't many other food stores to compete with. This way, the stores can sell food to people who need it, and it's easier for them to grow and hire more workers.