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Tax Credits to Boost Domestic Infant Formula Manufacturing and Supply

This Act introduces new tax credits aimed at increasing the domestic production and stabilizing the supply of infant formula in the United States. It offers significant financial incentives for smaller companies to invest in new or expanded manufacturing facilities. The goal is to ensure families with infants have reliable access to this essential product by strengthening the US supply chain.
Key points
A 30% investment tax credit is established for smaller manufacturers (under $750M revenue) building or upgrading US facilities for infant formula production.
A new production tax credit of $2 per pound of formula manufactured and sold domestically is available for up to five years.
These incentives are designed to reduce reliance on foreign sources and prevent future shortages of critical infant nutrition.
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Expired
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Additional Information
Print number: 118_S_4005
Sponsor: Sen. Casey, Robert P., Jr. [D-PA]
Process start date: 2024-03-20
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Infant Formula Made in America Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4005.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-03-20.

What are the main provisions?

Key points include:

  • A 30% investment tax credit is established for smaller manufacturers (under $750M revenue) building or upgrading US facilities for infant formula production.
  • A new production tax credit of $2 per pound of formula manufactured and sold domestically is available for up to five years.
  • These incentives are designed to reduce reliance on foreign sources and prevent future shortages of critical infant nutrition.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Casey, Robert P., Jr. [D-PA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Economy Family