Critical Mineral and Extraction Tax Parity Act

Bigger tax credit for mineral producers

This bill would expand the advanced manufacturing production tax credit to nine more minerals and certain phosphate products. New minerals listed include boron, copper, lead, metallurgical coal, potash, rhenium, silicon, silver, and uranium. Phosphate would qualify when converted to phosphoric acid; converted to phosphorus at 99% or higher purity by mass; or when phosphate rock is purified to at least 20% phosphorus pentoxide suitable for making phosphoric acid. It would also allow extractors to count ore extraction costs toward the credit if a refiner certifies the ore was refined into the eligible mineral and sold to an unrelated buyer. Foreign ore would count only if mined in the United States, or if the ore type is not mined in the U.S. commercially and the ore was not from a foreign country of concern. The bill would remove a 2.5% credit reduction that applied to metallurgical coal. These changes would apply to minerals produced and sold, or amounts paid or incurred, after December 31, 2025, and the Treasury would issue rules to prevent double benefits.