{"id":104634,"date":"2023-12-13T14:15:50","date_gmt":"2023-12-13T19:15:50","guid":{"rendered":"https:\/\/\/?p=104634"},"modified":"2023-12-13T14:17:36","modified_gmt":"2023-12-13T19:17:36","slug":"marco-rubio-introduces-legislation-restrict-ira-manufacturing-credits","status":"publish","type":"post","link":"https:\/\/\/2023\/12\/marco-rubio-introduces-legislation-restrict-ira-manufacturing-credits\/","title":{"rendered":"Sen. Marco Rubio introduces legislation to restrict IRA solar manufacturing tax credits"},"content":{"rendered":"
\"\"

Credit: Gage Skidmore<\/p><\/div>\n

Ahead of the Biden Administration\u2019s release of guidance for the IRA’s 45X manufacturing production tax credit, U.S. Sen. Marco Rubio (R-FL) introduced the Protecting Advanced American Manufacturing Act,<\/a> with a stated goal of prohibiting companies with ties to adversary countries like China from receiving American tax credits.<\/p>\n

\u201cWe applaud Senator Rubio and Congresswoman Miller for introducing this important legislation to ensure that Chinese companies, which are already subsidized by the Chinese government, are not benefiting from billions of dollars in Inflation Reduction Act tax credits,\u201d said Michael Stumo, CEO of the Coalition for a Prosperous America<\/a> (CPA). \u201cThe Inflation Reduction Act is an important industrial policy aimed at reducing U.S. dependence on China while building out renewable energy manufacturing at home. It has already led to billions of dollars of investment in domestic U.S. solar production But the Inflation Reduction Act still has a serious loophole that allows China to reap its benefits. Congress must act to prohibit Chinese companies from receiving Inflation Reduction Act tax credits.\u201d<\/span><\/p>\n

The\u00a0Protecting Advanced American Manufacturing Act\u00a0would block the following from receiving credits:<\/p>\n