HR 1707 · 119th CongressIn Committeecongress.gov ↗
What this bill does
AI plain-language summaryThis bill creates a new tax credit for businesses that buy a large portion of their agricultural products from American sources. The credit is worth up to 25% of what a business spends on domestically produced agricultural products, but it cannot exceed $100 million. To qualify, a business must spend at least 50% of its agricultural budget on American-grown products starting in 2026, with that requirement increasing each year until it reaches 85% after 2033. The covered products include things like dairy, crops, livestock products, poultry, bee products, and farm-raised fish, and any unused credit can be carried forward for up to 10 years.
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