This bill expands the advanced manufacturing production tax credit to support domestic critical mineral production and processing. It adds ten new minerals to the list eligible for tax credits—including boron, copper, lead, uranium, silicon, and others—and creates special provisions for phosphate processing. The legislation also allows companies that extract ore to claim tax credits for their extraction costs if the ore is later refined into an applicable critical mineral by another company, provided the ore comes from the United States or certain approved foreign sources not controlled by countries of concern. Additionally, the bill removes a previous reduction in tax credits for metallurgical coal, allowing it to receive the full credit amount. All these changes take effect on January 1, 2026, and are designed to incentivize domestic mining and mineral processing operations to reduce U.S. reliance on foreign sources.
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