CNS News– It’s no news that many stores have been having a hard time lately. Big chains like Bed Bath & Beyond, Tuesday Morning, and Christmas Tree Shops have gone bankrupt and shut down all of their stores. As a way to save money, Walgreens, Pizza Hut, CVS, Boston Market, TGI Fridays, Popeyes, and Rite Aid have also had to close stores.
It’s not just big businesses that are having a hard time; small businesses are also having a hard time. To help things get better, some lawmakers have suggested that Americans be paid to shop. The bill that Reps. Ro Khanna of California and Debbie Dingell of Michigan are introducing what is called the Made in the USA Tax Credit Act.
By giving small American businesses money, Democratic politicians hope that people will be more likely to buy from them. People who buy things that meet the Federal Trade Commission’s “Made in the USA” standards will get up to $2,500 in tax credits and couples will get up to $5,000 in tax credits.
This means that the product was made entirely in the U.S. The bill is only about products made by small businesses (those with less than 500 workers). Things like luxury goods, alcohol, guns, and cars will not be allowed. Individuals must make less than $125,000 a year, and couples must make less than $250,000 a year to be eligible for the benefit.
Get A $5,000 Stimulus Check For Shopping With New Bill In Congress https://t.co/XIReAzhTLo
— News Radio 610 WTVN (@610wtvnnews) March 5, 2024
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Dingell said in a press release, “Investing in American manufacturing leads to progress, innovation, and prosperity.” I’m happy to back the Made in the USA bill with Rep. Khanna to get people to buy American products first and support the small, family-owned businesses in our communities.
At the same time, Khanna said, “This bill will help American businesses and workers and make things cheaper for consumers.” It’s an important part of what needs to be a broad set of policy steps to bring back American leadership in technology and manufacturing, as well as a call to respect the workers who will help our country reach its goal.
The plan needs to go through a lot of steps before it can become a reality. It was just brought up in the House Committee on Ways and Means. Before it becomes law, it has to go through the House, and the Senate, and get President Joe Biden’s signature.