WASHINGTON, March 10 -- Sen. Jon Husted issued the following press release:
Sen. Jon Husted (R-Ohio) led a bill to boost critical mineral production in America. The Critical Minerals Investment Tax Modernization Act would boost U.S. mining of critical minerals by reducing the tax burden on production of rare earths.
Rep. Adrian Smith (R-Neb.) introduced the companion bill to the Critical Minerals Investment Tax Modernization Act in the U.S. House of Representatives.
"America needs to lead in the race for critical minerals, which are essential for advanced energy technologies, electronics and defense systems. China actively produces six times the amount of rare earth minerals mined within our borders. This bill presents a pro-growth, free...