HR. 701In Committee
REDUCE Food Prices Act
Establishes a new tax credit and expands several business tax incentives for qualified small food retailers in low-competition areas
Plain-English overview
What this bill does
Establishes a new tax credit and expands several business tax incentives for qualified small food retailers in low-competition areas
Key points
- Establish tax credit for food retailers
- Increase bonus depreciation percentages
- Increase qualified business income deduction
- Increase work opportunity tax credit
Current status
Where it stands
Status
In Committee
Latest action
2025-01-23 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedTaxation