U.S. Reps. Bill Huizenga (R-MI) and Mike Kelly (R-PA) on Wednesday introduced bipartisan legislation to create a federal tax credit for the recycling of waste products in steel manufacturing, a more environmentally friendly process that lowers steel production costs.
“I constantly hear from west Michigan manufacturers about the need for high-quality, made-in-America steel,” Rep. Huizenga said. “This bipartisan legislation will help make American steel more affordable and strengthen our domestic supply base so manufacturers in Michigan and across the Midwest can help fuel our nation’s economic recovery.”
Rep. Huizenga and Rep. Kelly cosponsored the Steel Industry Preservation Act, H.R. 4758, with bill sponsor U.S. Rep. Mike Doyle (D-PA). If enacted, the measure would extend and modify the section 45 credit of the Internal Revenue Code for refined coal from steel industry fuel, according to the text of the bill.
“Steel is a pillar of Pennsylvania’s economy with nearly 80,000 men and women relying on this industry for jobs that put food on the table,” Rep. Kelly said. “I’m proud to join my colleagues to introduce the Steel Industry Preservation Act, which will benefit workers, grow the economy, and strengthen our national security by leveling the playing field for domestic steel producers.”
H.R. 4758 has been referred to the U.S. House Ways and Means Committee for consideration.