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US Infant Formula Production: Tax Credits for Domestic Manufacturing.

This act introduces new tax credits for companies manufacturing infant formula in the United States. The goal is to boost domestic production and availability of this crucial product, potentially leading to more stable supplies for families with infants.
Key points
Companies producing infant formula in the US can receive a tax credit of 30% on investments in new or expanded manufacturing facilities.
Additionally, companies can receive a credit of $2 per pound of eligible infant formula manufactured and sold in the US, up to a limit of 18 million pounds annually.
Support is primarily aimed at smaller companies (with annual revenues up to $750 million) to promote diversity among suppliers.
The objective is to enhance the security of infant formula supply and reduce reliance on imports.
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Status: Introduced
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Additional Information
Print number: 119_HR_2008
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2025-03-10