Casey Urges Biden to Amend Act Hurting U.S. Manufacturers
US Senator Bob Casey has urged the Biden administration to correct a guidance in the Inflation Reduction Act (IRA) that would undermine American manufacturers and workers. The guidance currently allows foreign steel in solar electricity generation projects to qualify for a 10% tax credit, which is inconsistent with the intent of the act to promote American products and protect American workers. Casey’s provision in the landmark law insisted on strict domestic content standards to ensure projects use 100 percent American-made steel and iron.
Casey Leads Provision for American-Made Manufacturing Tax Credits
Senator Bob Casey (D-PA) has urged the Biden Administration to reconsider the Department of the Treasury’s guidance on the Inflation Reduction Act (IRA) program. The current guidance could inadvertently harm American manufacturers and workers. Casey requests a reevaluation of the IRA’s Domestic Content Bonus Credit to ensure steel and iron used in solar electricity generation are American-made.
This move supports American products and workers and prevents indirect benefits to China and other nations. The Wall Street Journal reports that current guidelines could allow firms to use foreign steel and still qualify for a 10% bonus tax credit.
Casey’s long-standing advocacy for federal initiatives that bolster economic revitalization and workforce development is evident in his efforts. In 2021, he worked to pass the Infrastructure Investment and Jobs Act and theInflation Reduction Act in 2022, both of which included strict domestic content standards for the use of 100% American-made steel and iron in projects.
Previously, Senator Casey has successfully urged the Treasury Department to implement guidance for clean energy tax credits, and in June, he delivered a speech advocating for investment in American workers and manufacturing.
He also recently announced the launch of two hydrogen hubs funded by the Infrastructure Investment and Jobs Act: the Mid-Atlantic Clean Hydrogen Hub and the Appalachian Regional Clean Hydrogen Hub. These hubs are set to bring employment, economic growth, and energy innovation to the Mid-Atlantic and the Appalachian Basin.
In a letter to the Treasury Department signed by multiple U.S. Senators, Casey requests a revision of the categorization and use of steel and iron in solar electricity generation projects. This amendment to the guidance will ensure the protection of U.S. workers and industry from overseas competition. The full text of the letter is available online.
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