Some Senate Democrats are voicing concern about a tax credit tied to the Inflation Reduction Act meant to incentivize domestic manufacturing of clean energy equipment.
At a Senate Finance Committee hearing Tuesday on manufacturing-related tax policies, Sen. Sherrod Brown (D-Ohio) said the so-called 45X credit should exclude products that contain parts from China and other adversaries.
“I’m working with colleagues — as you know — on both sides of the aisle to tighten restrictions on the 45X credit to ensure that taxpayer money isn’t going to Chinese companies and other foreign entities of concern,” Brown said at the hearing, talking to Mark Widmar, CEO of First Solar.
“Our tax code is supposed to incentivize American manufacturing and building out the domestic supply chain. It shouldn’t be exploited by the Chinese Communist Party,” Brown said.
