Harris Backs Minerals Stockpile, Permitting Reform, and Climate-Friendly Tax Credits

Strengthening Mineral Supply Chains

Vice President Harris recently announced a commitment to increasing domestic minerals production while creating a minerals stockpile. The campaign's press release revealed plans to invoke war-time authority under the Defense Production Act, aimed at bolstering mineral supply chains and minimizing reliance on China.

Introduced Tax Credits

Harris's agenda includes the proposed “America Forward tax credit”, which targets various industries with the potential to mitigate climate change. These credits would fund initiatives such as:

• Reducing emissions in steel and iron production
• Developing sustainable materials
• Enhancing climate-friendly energy manufacturing
• Supporting the semiconductor industry

These credits would offer additional benefits for investments in manufacturing, farming, and energy communities facing transitions away from fossil fuels.

Policy Reforms to Accelerate Infrastructure

Additionally, Harris emphasized the necessity of expedited approvals for infrastructure projects through a series of policies known as “permitting reform.” These efforts are set against a backdrop of legislative discussions in Washington aimed at accelerating new energy projects, despite concerns about potential compromises on environmental reviews.

Outlook on Energy Production

Harris's plan does not clarify if it includes increasing fossil fuel production alongside the push for green energy. Critics have urged for detailed policy proposals, especially with announcements that Harris enters the race amidst a shifting political landscape where congressional support remains uncertain.