PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in House · Jan 23, 2025
Restoring Establishment Deductions and Uplifting Competition to Ease Food Prices Act or the REDUCE Food Prices Act
This bill establishes a new tax credit for certain food retail businesses. The bill also increases bonus depreciation, the qualified business income (QBI) tax deduction, the rehabilitation tax credit (also known as the historic preservation tax credit), and the work opportunity tax credit (WOTC) for the businesses.
The bill establishes a new tax credit (as part of the general business tax credit) in the amount of 15% of certain capital investments by a qualified small food retail business in the first three years of operation.
Showing the opening paragraphs of the official summary.
The bill defines a qualified small food retail business as a private or closely-held company, a partnership, or a sole proprietorship (1) with annual average gross receipts of $200 million or less for the three tax years preceding the current tax year, (2) with at least 70% of its annual average gross receipts attributable to the retail sale of food or produce, and (3) located in a low-competition area.
The bill also increases
bonus depreciation percentages for certain property placed into service by a qualified small food retail business,
the QBI tax deduction for qualified small food retail business,
the rehabilitation tax credit for qualified rehabilitation expenses incurred by a qualified small food retail business, and
the WOTC for wages paid by a qualified small food retail business to eligible workers.
People & committees
Rep. Sherrill, Mikie [D-NJ-11] · D–NJ
Legislative record
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Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Mar 9, 2026. Consult Congress.gov for the current record.
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