Senators Seek Credit Eligibility for Critical Mineral Extraction

A group of Democratic senators are calling for the Treasury Department to allow critical mineral mining and processing activities to be eligible for advanced manufacturing tax credits established in the 2022 tax-and-climate law.

Sens. Catherine Cortez Masto (D-Nev.), John Hickenlooper (D-Colo.) and seven of their colleagues wrote the letter, requesting the agency revise proposed rules so that they would permit Section 45X advanced manufacturing credits to go toward these sorts of domestic operations. The proposed rules Treasury issued last year excluded any costs related to the extraction or acquisition of raw materials from being taken into account as production ...