Inflation Reduction Act Boosts Manufacturing
This is a China news story, published by The Diplomat, that relates primarily to Biden news.
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global supplyThe Diplomat
•Securing America’s Critical Minerals: A Policy Priority Conundrum
81% Informative
Inflation Reduction Act tying together climate and industrial policies with subsidies aimed at sparking a green manufacturing boom.
China ’s dominance in global supply of critical minerals presents a potential chokehold on U.S. industry.
Critical minerals sit at the intersection of three policy objectives for the United States , including national security, jobs and growth.
The 30D tax credit also includes a sourcing requirement that eligible EVs are manufactured in North America .
The Defense Production Act was invoked by both Trump and Biden to include rare earth elements and battery minerals.
Yet the investment tax credit (under Section 48C ) and the production tax credit for renewables, batteries, and critical minerals do not include the same FEOC restrictions.
Tariffs and exclusion from subsidies serve primarily to exclude China from supply chains.
The securitization of critical mineral supply chains has been a unique point of continuity between Trump and Biden .
The IRA can be understood as a soft-spoken continuation of Trump’s “America First” protectionism.
The outsized share of green tech investment received by GOP districts provides a major incentive for a Republican Congress to support the IRA .
VR Score
82
Informative language
81
Neutral language
31
Article tone
formal
Language
English
Language complexity
69
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
17
Source diversity
14
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