Referred to the House Committee on Ways and Means.
Congressional Research Service
Official summary
Version 00 · Introduced in House · Aug 3, 2021
Manufacturing America's Mineral Security Act
This bill allows an additional 10% tax deduction for the cost of specified domestically produced materials if such materials are acquired by the taxpayer directly from the domestic smelter or processor of such material.
The bill defines specified domestically produced materials to include mine products, metal or metal compound production, and alloy and magnet production. Specified material are minerals that are necessary for the energy infrastructure of the United States, for community resiliency, to support domestic manufacturing, agriculture, housing, telecommunications, health care, and transportation infrastructure, or for the economic security of, and balance of trade in, the United States.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.
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