INFANT Tax Credit Act

The INFANT Tax Credit Act creates two new tax credits to support domestic infant formula manufacturing in the U.S. It offers a 25% tax credit for businesses investing in new or upgraded manufacturing facilities (for companies with annual revenue under $750 million) and a $1.50 per pound credit for each pound of infant formula manufactured and sold domestically (for companies with revenue under $500 million). The bill requires the Secretary of Agriculture to submit annual reports to Congress on facility numbers, barriers to accessing rural development funding, and community impacts. These provisions directly affect U.S. infant formula manufacturers meeting revenue thresholds, aiming to boost domestic production capacity.