SCHUMER PUSHES FEDS FOR SWIFT IMPLEMENTATION OF INFLATION REDUCTION ACT'S "ADVANCED MANUFACTURING PRODUCTION TAX CREDIT" PROVISIONS TO BOOST AMERICA-MADE ALUMINUM FROM COMPANIES LIKE ALCOA; SENATOR SAYS UPDATED GUIDANCE CRITICAL TO LEVELING THE PLAYING FIELD WITH COMPETITORS OVERSEAS AND BOOSTING ALUMINUM MANUFACTURING HERE IN AMERICA

Press Release

"I championed including the Advanced Manufacturing Production Tax Credit in the Inflation Reduction Act domestic aluminum manufacturers like the North Country's Alcoa in mind to boost American manufacturing. This vital tax credit has the potential to empower American manufacturers like Alcoa and boost job growth, and advance clean energy innovations throughout New York. Now, I am determined to ensure that companies like Alcoa, boasting the world's longest-operating aluminum smelter right here in NY, can fully leverage the Advanced Manufacturing Production Tax Credit to bolster production and create good-paying jobs. This will help leveling the playing field with competitors overseas and strengthen our aluminum manufacturing industry right here in America in places like the North Country. That's why, after meeting with Alcoa Executives, I personally wrote to Treasury Secretary Yellen requesting clear, finalized guidance on the tax credit to ensure our hardworking aluminum producers can access these vital benefits, and I will keep fighting until they see the benefits they deserve."

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