Search Results for keywords:"infant formula made in america act"

Search Results: keywords:"infant formula made in america act"

H. R. 7744 — To amend the Internal Revenue Code of 1986 to allow an investment credit for certain domestic infant formula manufacturing projects and to allow a domestic production credit for certain infant formula.
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March 20, 2024
Status:Introduced in House
Congress:118
Words:2,920
The H.R. 7744, titled the "Infant Formula Made in America Act of 2024," aims to amend the Internal Revenue Code of 1986 to provide financial incentives for domestic infant formula manufacturing projects. It proposes a 30% investment credit for eligible manufacturers who...
Simple Explanation
The "Infant Formula Made in America Act of 2024" wants to help companies make more baby formula in the U.S. by giving them special money bonuses (like coupons) if they build new factories or make lots of formula here, but they have to follow certain rules to get these bonuses.
S. 4005 — To amend the Internal Revenue Code of 1986 to allow an investment credit for certain domestic infant formula manufacturing projects and to allow a domestic production credit for certain infant formula.
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March 20, 2024
Status:Introduced in Senate
Congress:118
Words:2,930
The Infant Formula Made in America Act of 2024 aims to amend the Internal Revenue Code to provide tax credits for specific domestic infant formula manufacturing projects. It introduces a new investment credit, offering a 30% tax break on investments for U.S. manufacturing...
Simple Explanation
The Infant Formula Made in America Act of 2024 is like giving a money boost to companies that make baby formula in the U.S., so they don't have to bring it from other countries. They get rewards or "credits" when they spend money on making factories or making a lot of formula right here in America!

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