This post was originally published on GreenMet
Washington, DC – April 17, 2023 — GreenMet is pleased to announce that its President and CEO Drew Horn has been selected to testify as an expert witness at a hearing held by the House Committee on Ways and Means concerning the U.S. Tax Code Subsidizing Green Corporate Handouts and the Chinese Communist Party. This hearing will take place on Wednesday, April 19, 2023, at 10:00am, 1100 Longworth House Office Building.
“When state-funded companies of foreign adversaries are allowed to do business inside the U.S. and benefit from tax incentives meant for domestic-owned companies, this is the major 21st century threat to our domestic manufacturing, industrial and national security capabilities.” said Horn.
The 2022 Inflation Reduction Act (IRA) signed by the President was intended to invest in U.S. companies whose focus is domestic energy production and working to secure our energy security.
“An unintended consequence of the current IRA implementation is allowing Chinese-backed companies to take advantage of U.S. tax credits on U.S. soil by partnering with domestic companies,” Horn continued. “These loopholes are exposed and in play.”
Find the link to hearing advisory here.
###
GreenMet (www.Greenmet.com) is focused on developing the infrastructure for sustainable, reliable, and secure critical mineral supply chains to meet North American energy and technology needs. Based in Washington, D.C., GreenMet’s mission is to elevate the importance of responsible critical mineral mining, mineral processing, and metallurgy. The company works to promote domestic mineral resource development as integral to U.S. trade and defense, energy, and fiscal policy.
According to Executive Order 13817, “Critical Minerals” are defined as a non-fuel mineral or mineral material essential to the economic and national security of the United States, the supply chain of which is vulnerable to disruption, and that serves an essential function in the manufacturing of a product, the absence of which would have significant consequences for our economy or our national security.