Senator Curtis Introduces Bill To Strengthen Critical Mineral Production

Senator Curtis has introduced a bill that would expand incentives for domestic mining, processing, and production. The Critical Mineral and Extraction Tax Parity Act aims to strengthen America’s domestic critical mineral supply chains by expanding and improving the Advanced Manufacturing Production Tax Credit under Section. “Utah and states across the West have the resources, workers, and expertise to produce more of these materials here at home,” shares Senator Curtis. “Our bill makes sure the tax code recognizes the full cost of American mineral production and gives domestic producers a fair opportunity to compete with heavily subsidized, artificially propped-up foreign supply chains.” An example of an eligible critical mineral that would be included is phosphate which is something the Simplot Company President and CEO of course supports. “Adding phosphate to the list of eligible minerals under section 45X of the Internal Revenue Code will greatly help domestic phosphate producers like the Simplot Company and will incentivize future investment in phosphate mining and processing,” says Simplot President and CEO Garrett Lofto. “We very much appreciate Senator John Curtis’ leadership on this legislation and his support of strengthening the domestic supply chain for critical minerals such as phosphate.”