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!