U.S. Congress legislation · 119th Congress
HB7230: Buying American Cotton Act of 2026
Status: In committee, January 22, 2026
To amend the Internal Revenue Code of 1986 to establish a domestic cotton consumption credit.
What the bill says
To amend the Internal Revenue Code of 1986 to establish a domestic cotton consumption credit.
From the introduced text, January 22, 2026:
A BILL To amend the Internal Revenue Code of 1986 to establish a domestic cotton consumption credit. SECTION 1. Short title This Act may be cited as the Buying American Cotton Act of 2026 . SECTION 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: SECTION 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 volume of qualified cotton in an eligible article sold by the taxpayer in a qualifying sale during the taxable year, (2) the applicable percentage, and (3) the applicable cotton market price. (b) Qualifying sale; applicable percentage; applicable cotton market price (1) Qualifying sale For purposes of this section-- (A) In general The term qualifying sale means, with respect to any eligible article, the …
Sponsors
- Gregory Murphy (R, HD-003) · primary sponsor
- Terri Sewell (D, HD-007)
- David Rouzer (R, HD-007)
- Adriano Espaillat (D, HD-013)
- David Kustoff (R, HD-008)
- David Scott (D, HD-GA-13)
- Mike Carey (R, HD-015)
- Donald Davis (D, HD-001)
- Glenn Thompson (R, HD-PA-15)
- Vicente Gonzalez (D, HD-034)
- Barry Moore (R, HD-AL-2)
- Alma Adams (D, HD-012)
Latest actions
- : Referred to the House Committee on Ways and Means.
- : Introduced in House
Subjects: Taxation
Common questions
- What is HB7230?
- HB7230 is a bill in Congress (119th Congress): Buying American Cotton Act of 2026.
- What does HB7230 do?
- In its own words: To amend the Internal Revenue Code of 1986 to establish a domestic cotton consumption credit.
- What is the status of HB7230?
- In committee as of January 22, 2026. Latest action: Referred to the House Committee on Ways and Means. (January 22, 2026).
- Who sponsored HB7230?
- Gregory Murphy (R, HD-003), with 11 co-sponsors.
- Where is the official record for HB7230?
- On the Congress website: https://www.congress.gov/bill/119th-congress/house-bill/7230
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.