H.R. 8971, also known as the "Investing in New Families And Newborns Through Tax Credit Act" or the "INFANT Tax Credit Act," aims to amend the Internal Revenue Code of 1986. The bill introduces an investment credit for certain domestic infant formula manufacturing facilities,...
Simple Explanation
H.R. 8971 is a plan that wants to give extra money help to places that make baby formula, like giving them 25 cents back for every dollar they spend on their factory and $1.50 for each pound of formula they make and sell. It's mostly for smaller companies, and there are special rules about who can get this help.