Buying American Cotton Act of 2026

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7230 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7230 To amend the Internal Revenue Code of 1986 to establish a domestic cotton consumption credit. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 22, 2026 Mr. Murphy (for himself, Ms. Sewell, Mr. Rouzer, Mr. Espaillat, Mr. Kustoff, Mr. David Scott of Georgia, Mr. Carey, Mr. Davis of North Carolina, Mr. Thompson of Pennsylvania, Mr. Vicente Gonzalez of Texas, Mr. Moore of Alabama, Ms. Adams, Mr. Mann, Ms. Brown, Mr. Allen, Mr. Figures, Mr. Pfluger, Mr. Costa, Mr. Crawford, Mr. Bishop, Mr. Austin Scott of Georgia, Mr. Gray, Mr. Jackson of Texas, and Mr. Carbajal) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish a domestic cotton consumption credit. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Buying American Cotton Act of 2026''. SEC. 2. DOMESTIC COTTON CONSUMPTION CREDIT. (a) Purpose.--The purposes of this section are-- (1) to encourage the consumption of cotton which originated in the United States, and products which are made from such cotton, and (2) to document the processing of such cotton through a trustworthy supply chain tracing system. (b) Allowance of Credit.--Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: ``SEC. 45BB. DOMESTIC COTTON CONSUMPTION CREDIT. ``(a) Credit Allowed.--For purposes of section 38, the domestic cotton consumption credit determined under this section for any taxable year is an amount equal to the product of-- ``(1) the documented vol