The Office of Senator Debbie Stabenow
WASHINGTON U.S. Senator Debbie Stabenow introduced her new bill to boost manufacturing by providing a 30% tax credit for manufacturers to retool or build new facilities to produce advanced energy parts or technologies. The American Jobs in Energy Manufacturing Act would incentivize manufacturers in Michigan to create jobs that draw on existing skilled workforces and reinvest in communities experiencing high unemployment.
This is part of Senator Stabenow’s American Jobs Agenda. Last week, Senator Stabenow announced her Make It in America Act to strengthen the country’s Buy American laws.
“Transitioning to a clean energy economy creates significant opportunities for Michigan to put people to work in good-paying jobs in industries that are key to combatting the climate crisis. Unfortunately, we have fallen behind countries like China, and the COVID-19 crisis has exposed gaps in our domestic manufacturing. The good news is, we can do some
Stabenow, Manchin introduce bill for clean energy tax credit
WASHINGTON Legislation introduced in the U.S. Senate would repurpose a federal tax credit to incentivize manufacturing companies to create clean energy jobs.
U.S. Sens. Joe Manchin, D-West Virginia, and Debbie Stabenow, D-Lansing, announced the American Jobs in Energy Manufacturing Act during a virtual news conference Monday. The bill would provide 30 percent tax credits for manufacturers in the automotive and coal industries to build or repurpose facilities to produce components and products needed to reduce carbon emissions.
The tax credit would be made available through the Section 48C Manufacturing Tax Credits which were created during the 2009 financial crisis.
President Biden ordered a review of supply chains for critical materials from semiconductors to pharmaceuticals and rare-earth minerals, aiming to spur domestic production while strengthening ties with allies.
Biden Executive Orders Demand Solution to Semiconductor, EV Battery Problems thedetroitbureau.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedetroitbureau.com Daily Mail and Mail on Sunday newspapers.
President Joe Biden’s top economic adviser, Brian Deese, has sought the Taiwanese government’s help resolving a global semiconductor shortage that’s idling U.S. car manufacturing plants, according to a letter reviewed by Bloomberg News.