Summary of Bill HR 1707
Bill 119 HR 1707, also known as the American Agricultural Commodities Tax Credit Act, aims to amend the Internal Revenue Code of 1986 in order to create a tax credit that encourages individuals to buy American agricultural products. The bill proposes offering a tax credit to individuals who purchase American-grown agricultural commodities, such as fruits, vegetables, grains, and livestock.
The tax credit would serve as an incentive for consumers to support American farmers and the agricultural industry. By purchasing domestic agricultural products, consumers can help boost the economy and support local farmers. The bill aims to promote the importance of buying American agricultural commodities and highlight the benefits of supporting domestic agriculture.
Overall, Bill 119 HR 1707 seeks to promote the purchase of American agricultural products through the implementation of a tax credit. This legislation aims to support the agricultural industry, strengthen the economy, and encourage consumers to buy locally grown produce.