10/24/2024 | Press release | Distributed by Public on 10/24/2024 11:36
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.
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