Decision provides crucial financial support for domestic primary aluminum production
Washington, D.C. (December 14, 2023) — In response to the U.S. Treasury Department’s announcement earlier today on the proposed guidance regarding the Inflation Reduction Act Advanced Manufacturing Production Tax Credit 45X, SAFE Vice President and Director of the Center for Strategic Industrial Materials Joe Quinn issued the following statement.
“We applaud Treasury for clarifying the definition of aluminum production as stated in the Inflation Reduction Act. Today’s proposed guidance will help U.S. primary aluminum producers bolster U.S. operations and strengthen global competitiveness,” said Quinn. “SAFE believes aluminum is vital to the clean energy transition, a key component for electric vehicles, solar panels, transmission lines, and countless other tools of the clean energy future.”
Earlier this year, more than 15 retired military leaders in SAFE’s Energy Security Leadership Council requested clarifying guidance to ensure the definition in 45X included primary production of commercial grade aluminum.
SAFE established the Center for Strategic Industrial Materials last year to examine the feasibility of reshoring primary aluminum production in the United States. We believe the world is transitioning from a fossil-based to a minerals-based economy that will require an ever-growing supply of critical minerals and materials, specifically aluminum. In the coming decade, where aluminum comes from – and how it is produced – will have profound consequences on America’s national security and economic competitiveness.
SAFE is an action-oriented, nonpartisan organization committed to transportation and energy policy solutions to ensure the economic and national security of the United States, its partners, and allies. SAFE has convened business and former military leaders since 2004 to advance secure, resilient, and sustainable energy solutions. Visit secureenergy.org to learn more.