Rep. Pete Stauber
U.S. Rep. Pete Stauber (R-MN) on April 28 introduced legislation that would put an end to America’s dependence on foreign nations for critical minerals by bolstering the nation’s domestic supply chain.
“Mining is essential to northern Minnesota’s economy and identity, so I am proud to introduce legislation that will empower our miners to responsibly develop the resources necessary to meet all our nation’s security and economic needs,” Rep. Stauber said.
The congressman sponsored the Securing America’s Critical Minerals Supply Chain Act, H.R. 6630, to incentivize American manufacturers to purchase domestically sourced critical minerals by providing an additional deduction for the cost of certain materials purchased directly from a domestic smelter or processor, according to the congressional record summary of the bill.
Currently, U.S. manufacturers rely on foreign countries for more than half of the critical metals and minerals they use, according to Rep. Stauber’s office, which noted that such outsourcing can jeopardize national and economic security.
“The coronavirus pandemic has highlighted the deficiency of our supply chain and made clear the need to domestically source the critical minerals used in every sector of our economy,” said Rep. Stauber. “My legislation would take an important step to end our reliance on untrustworthy foreign nations by incentivizing American manufacturers to purchase critical minerals that have been processed here in the United States.”
Kelsey Johnson, president of the Iron Mining Association, thanked Rep. Stauber for introducing H.R. 6630, which she said would provide a beneficial tax incentive for the U.S. iron mining industry. “During this unprecedented time it is wonderful to see our local and federal elected leaders working together to further incentivize the use of environmentally-superior, U.S.-produced iron ore pellets,” Johnson said.
The bill has been referred for consideration to the U.S. House Ways and Means Committee.