Miller's Statement on Final 45X Rule from the Department of Treasury

Washington D.C. - Today, Congresswoman Carol Miller (R-WV), chairwoman of the Supply Chains Tax team, released a statement on the final ruling from the U.S. Department of Treasury on the Advanced Manufacturing Production Credit (45X).

"It's disappointing but not surprising that the Biden-Harris administration has once again allowed our adversaries to exploit American tax credits while stifling American manufacturing. The final 45X rule released by the Department of Treasury falls extremely short in protecting U.S. energy manufacturers and producers, while granting China unlimited access to our supply chain. I introduced the Protecting American Advanced Manufacturing Act, which ensures U.S. companies are the beneficiaries of tax credits that lower the cost of energy production while combatting the anti-American rules from the Biden-Harris Administration. We need a strategic decoupling from China; eliminating their access to American tax credits is the bare minimum," said Congresswoman Miller.

Click here for bill text of the Protecting American Advanced Manufacturing Act.

Background:

• Congresswoman Miller and Senator Marco Rubio (R-FL) introduced theProtecting American Advanced Manufacturing Act in December 2023 to ensure nations who want to weaken the U.S., including Communist China, do not receive American tax credits.
• The Protecting American Advanced Manufacturing Act would prevent 45X tax credits from supporting companies:
  • Who are owned, controlled, or operated by a foreign adversary, such as China, Russia, North Korea, and Iran,
  • Whose management and operations are directly controlled by a foreign adversary,
  • Who are controlled by a foreign adversary through debt, lease agreements, and contract manufacturing arrangements,
  • Who are controlled by a foreign adversary through shell companies.

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