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.