Senators Curtis and Daines Propose Tax Parity Bill to Boost U.S. Critical Mineral Production
Utah Senator John Curtis and Montana Senator Steve Daines introduced legislation to expand tax credits for domestic extraction of critical minerals, aiming to reduce reliance on China.
Senators John Curtis and Steve Daines have filed the Critical Mineral and Extraction Tax Parity Act to strengthen U.S. self-sufficiency in essential minerals. The bill expands the existing Advanced Manufacturing Production Tax Credit, adding minerals like boron, copper, lead, silver, and phosphate, and clarifies that on-shore ore extraction qualifies for the credit. It also removes a surcharge on metallurgical coal used for steel production, allowing coal miners to receive the same incentives as other mineral producers.
Advocates such as Simplot Company president Garrett Lofto and Utah Associated Municipal Power Systems director Mike Squires argue the measure will spur investment and increase domestic mining capacity. The legislation is awaiting markup in the House Ways and Means Committee and has not yet been scheduled for a hearing or vote.
Why it matters
The bill could lessen U.S. dependence on foreign sources for minerals vital to technology, defense and agriculture.
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