, which advocates for the U.S. solar manufacturing industry, lauded the introduction of bipartisan legislation that would block Chinese solar manufacturers and other foreign entities from taking advantage of a clean energy tax credit intended to boost American solar manufacturing jobs.
The Inflation Reduction Act of 2022 created an Advanced Manufacturing Production Tax Credit to bolster domestic production of equipment, components and critical materials related to clean and renewable energy. These tax credits have contributed to the largest investments in factory production in nearly 100 years. But without action from Congress, it is estimated that Chinese-controlled companies could collect more than $100 billion in federal tax credits that were instead designed to support U.
The American Tax Dollars for American Solar Manufacturing Act, introduced yesterday by Sens. Sherrod Brown , Bill Cassidy , Jon Ossoff and Rick Scott , would ensure that companies controlled by China and other unfriendly foreign countries would not be able to receive the 45X tax credits. “We shouldn’t be in the business of rewarding China at the expense of our domestic solar industry,” said U.S. Army General John Adams , and Board Member of the Defend Solar USA Alliance. “The Brown-Cassidy bill would ensure that Americans’ taxpayer dollars stay right here at home rather than help subsidize a foreign government’s efforts to put domestic manufacturers out of work. By building a successful domestic solar industry, the U.S.
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