U.S. Senator Steve Daines today condemned new guidance issued by the U.S. Department of the Treasury regarding the Advanced Manufacturing Production Credit (45X), labeling it a “cynical and desperate attempt to get votes before the election.”
Daines’ remarks came after the Treasury made minor adjustments to its draft guidance, which he had previously criticized for not adequately supporting the mining industry. Last month, following the layoff of 700 employees at the Stillwater Mine, Daines urged the Treasury to include extraction costs in the tax credit to better support miners.
“If Biden and Harris were serious about helping our miners, they would have reversed their anti-mining policies years ago,” Daines stated. He expressed concern that the new guidance still fails to ensure that all mining operations are allowed and does not impose restrictions to prevent Foreign Entities of Concern, such as China or Russia, from benefiting from the tax credit.
The senator’s comments highlight ongoing frustrations among lawmakers and industry advocates regarding federal mining policies and their implications for domestic job security. Daines has been a vocal proponent of policies that bolster the mining sector, especially in the wake of significant job losses.
