HR 4932
117th Congress
House
Taxation
Buy American requirements
Competitiveness, trade promotion, trade deficits
Income tax deductions
Metals
Mining
Strategic materials and reserves
Manufacturing America’s Mineral Security Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 3, 2021
Referred to the House Committee on Ways and Means.
Aug 3, 2021
Introduced in House
Plain-English summary
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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1